CONMED (CNMD) Posts Earnings Results, Beats Expectations By $0.10 EPS

CONMED (NASDAQ:CNMD) announced its quarterly earnings results on Wednesday. The medical technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10, Bloomberg Earnings reports. The business had revenue of $202.10 million for the quarter, compared to analysts’ expectations of $196.51 million. CONMED had a return on equity of 8.96% and a net margin of 6.97%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. CONMED updated its FY18 guidance to $2.15-$2.20 EPS.

Shares of CNMD stock opened at $63.11 on Thursday. CONMED has a 12-month low of $43.88 and a 12-month high of $64.99. The company has a market capitalization of $1,731.87, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.44.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, March 14th. CONMED’s dividend payout ratio (DPR) is 42.33%.

In related news, CFO Luke A. Pomilio sold 18,023 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $63.38, for a total value of $1,142,297.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Terence M. Berge sold 3,868 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $62.45, for a total value of $241,556.60. Following the completion of the transaction, the vice president now directly owns 19,908 shares of the company’s stock, valued at $1,243,254.60. The disclosure for this sale can be found here. Insiders sold a total of 46,473 shares of company stock valued at $2,874,693 over the last three months. Corporate insiders own 2.62% of the company’s stock.

A number of brokerages have recently weighed in on CNMD. BidaskClub upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. Zacks Investment Research upgraded CONMED from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Friday, February 2nd. ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Needham & Company LLC increased their price objective on CONMED from $58.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.50.

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CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

Earnings History for CONMED (NASDAQ:CNMD)

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