CONMED Co. (NYSE:CNMD) Expected to Post Quarterly Sales of $274.75 Million

Wall Street analysts forecast that CONMED Co. (NYSE:CNMDGet Rating) will report sales of $274.75 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CONMED’s earnings. The lowest sales estimate is $270.53 million and the highest is $278.10 million. CONMED posted sales of $255.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that CONMED will report full year sales of $1.12 billion for the current year, with estimates ranging from $1.11 billion to $1.13 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.23 billion, with estimates ranging from $1.19 billion to $1.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CONMED.

CONMED (NYSE:CNMDGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. CONMED had a net margin of 6.19% and a return on equity of 13.20%. The company had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.77 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.

Separately, Bank of America assumed coverage on shares of CONMED in a research report on Wednesday, March 2nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $151.67.

In other news, CEO Curt R. Hartman sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $138.43, for a total transaction of $346,075.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerome J. Lande sold 6,000 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $115.42, for a total transaction of $692,520.00. Following the transaction, the director now owns 3,928 shares of the company’s stock, valued at $453,369.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,021 shares of company stock valued at $1,216,552. Company insiders own 1.10% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of CONMED by 42.4% in the fourth quarter. Fifth Third Bancorp now owns 252 shares of the company’s stock worth $36,000 after purchasing an additional 75 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of CONMED by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 2,200 shares of the company’s stock worth $312,000 after purchasing an additional 80 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of CONMED by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 25,219 shares of the company’s stock worth $3,842,000 after purchasing an additional 96 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of CONMED by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock worth $2,013,000 after purchasing an additional 100 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of CONMED by 1.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 6,700 shares of the company’s stock worth $995,000 after purchasing an additional 100 shares during the last quarter.

NYSE CNMD opened at $111.06 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. CONMED has a 1-year low of $107.08 and a 1-year high of $159.11. The company has a 50 day moving average of $130.88 and a 200-day moving average of $136.03. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 57.25, a PEG ratio of 3.19 and a beta of 1.53.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.80 annualized dividend and a yield of 0.72%. CONMED’s dividend payout ratio is currently 41.24%.

CONMED Company Profile (Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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Earnings History and Estimates for CONMED (NYSE:CNMD)

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