CONMED Corporation (NASDAQ:CNMD) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.85-1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.86.
CONMED Corporation (NASDAQ CNMD) traded down 1.32% during midday trading on Wednesday, hitting $49.98. The stock had a trading volume of 108,193 shares. The company has a market cap of $1.39 billion, a P/E ratio of 113.85 and a beta of 0.67. The stock’s 50-day moving average is $51.13 and its 200-day moving average is $46.69. CONMED Corporation has a one year low of $37.60 and a one year high of $52.82.
CONMED Corporation (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $197.20 million during the quarter, compared to the consensus estimate of $194.50 million. CONMED Corporation had a net margin of 1.61% and a return on equity of 8.69%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities analysts predict that CONMED Corporation will post $1.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Tuesday, June 13th. CONMED Corporation’s dividend payout ratio is presently 181.82%.
CNMD has been the subject of a number of research reports. BidaskClub cut shares of CONMED Corporation from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. Needham & Company LLC lifted their price objective on shares of CONMED Corporation from $48.00 to $54.00 and gave the company a buy rating in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of CONMED Corporation from a sell rating to a hold rating in a report on Friday, April 28th. Finally, Ladenburg Thalmann Financial Services cut shares of CONMED Corporation from a buy rating to a neutral rating and cut their price target for the stock from $50.00 to $48.00 in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $48.33.
In other news, Director Dirk Kuyper sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the completion of the sale, the director now owns 10,739 shares of the company’s stock, valued at approximately $561,005.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $51.22, for a total transaction of $153,660.00. Following the completion of the sale, the executive vice president now directly owns 14,455 shares of the company’s stock, valued at approximately $740,385.10. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by insiders.
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About CONMED Corporation
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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