Analysts predict that CONMED Co. (NASDAQ:CNMD) will report sales of $196.87 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CONMED’s earnings, with the lowest sales estimate coming in at $194.50 million and the highest estimate coming in at $199.24 million. CONMED reported sales of $186.57 million during the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The firm is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that CONMED will report full-year sales of $196.87 million for the current year, with estimates ranging from $831.80 million to $836.32 million. For the next year, analysts forecast that the business will post sales of $873.57 million per share, with estimates ranging from $866.90 million to $882.12 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CONMED.
CONMED (NASDAQ:CNMD) last posted its earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $212.17 million. CONMED had a return on equity of 8.96% and a net margin of 6.97%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share.
CNMD stock traded up $0.29 during mid-day trading on Thursday, reaching $64.38. The company’s stock had a trading volume of 429,603 shares, compared to its average volume of 155,541. The company has a current ratio of 2.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1,801.03, a price-to-earnings ratio of 32.68, a PEG ratio of 2.61 and a beta of 0.67. CONMED has a 52-week low of $40.54 and a 52-week high of $64.99.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. CONMED’s dividend payout ratio (DPR) is 40.61%.
In other news, VP Terence M. Berge sold 3,868 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.45, for a total value of $241,556.60. Following the sale, the vice president now directly owns 19,908 shares in the company, valued at $1,243,254.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $63.90, for a total value of $191,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,473 shares of company stock worth $2,874,693. Corporate insiders own 2.62% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. lifted its holdings in shares of CONMED by 13.9% in the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after purchasing an additional 89,078 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of CONMED by 65.8% in the third quarter. Prudential Financial Inc. now owns 118,365 shares of the medical technology company’s stock valued at $6,211,000 after purchasing an additional 46,956 shares in the last quarter. Rothschild Asset Management Inc. lifted its holdings in shares of CONMED by 52.5% in the third quarter. Rothschild Asset Management Inc. now owns 53,721 shares of the medical technology company’s stock valued at $2,819,000 after purchasing an additional 18,489 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of CONMED by 2.1% in the third quarter. Epoch Investment Partners Inc. now owns 232,576 shares of the medical technology company’s stock valued at $12,203,000 after purchasing an additional 4,839 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of CONMED by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,310 shares of the medical technology company’s stock valued at $488,000 after purchasing an additional 3,460 shares in the last quarter. Institutional investors own 99.57% of the company’s stock.
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CONMED Company Profile
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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