Equities research analysts forecast that CONMED Corporation (NASDAQ:CNMD) will report sales of $212.38 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CONMED’s earnings, with estimates ranging from $211.73 million to $213.40 million. CONMED posted sales of $204.09 million during the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.

On average, analysts expect that CONMED will report full year sales of $212.38 million for the current fiscal year, with estimates ranging from $785.70 million to $787.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $808.56 million per share, with estimates ranging from $800.00 million to $817.32 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover CONMED.

CONMED (NASDAQ:CNMD) last announced its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The company had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same period last year, the firm earned $0.41 EPS. CONMED’s revenue for the quarter was up 2.9% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Piper Jaffray Companies reissued a “hold” rating and set a $46.00 price target on shares of CONMED in a report on Friday, November 3rd. BidaskClub cut CONMED from a “sell” rating to a “strong sell” rating in a report on Sunday, August 20th. Needham & Company LLC reissued a “buy” rating and set a $58.00 price target on shares of CONMED in a report on Friday, November 17th. Zacks Investment Research cut CONMED from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Finally, KeyCorp reissued a “hold” rating on shares of CONMED in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. CONMED currently has an average rating of “Hold” and an average price target of $50.67.

In other news, CFO Luke A. Pomilio sold 12,429 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $50.63, for a total transaction of $629,280.27. Following the completion of the transaction, the chief financial officer now owns 45,486 shares in the company, valued at $2,302,956.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luke A. Pomilio sold 29,363 shares of CONMED stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.70, for a total value of $1,488,704.10. Following the completion of the transaction, the executive vice president now owns 45,486 shares of the company’s stock, valued at approximately $2,306,140.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,812 shares of company stock valued at $2,654,756. Company insiders own 2.62% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in shares of CONMED by 3.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after buying an additional 64 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of CONMED by 0.3% during the second quarter. Rothschild Asset Management Inc. now owns 35,232 shares of the medical technology company’s stock valued at $1,795,000 after buying an additional 107 shares during the period. Texas Permanent School Fund boosted its position in shares of CONMED by 1.0% during the second quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock valued at $923,000 after buying an additional 173 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of CONMED by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock valued at $298,000 after buying an additional 220 shares during the period. Finally, Aperio Group LLC boosted its position in shares of CONMED by 10.7% during the second quarter. Aperio Group LLC now owns 5,034 shares of the medical technology company’s stock valued at $256,000 after buying an additional 487 shares during the period. Institutional investors own 99.04% of the company’s stock.

CONMED (NASDAQ:CNMD) traded down $0.38 during trading hours on Friday, reaching $52.06. The company’s stock had a trading volume of 154,162 shares, compared to its average volume of 126,571. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1,473.23, a PE ratio of 30.14, a PEG ratio of 3.34 and a beta of 0.66. CONMED has a twelve month low of $39.74 and a twelve month high of $54.77.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. CONMED’s payout ratio is 142.86%.

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About CONMED

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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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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