Zacks: Analysts Anticipate CONMED Co. (NYSE:CNMD) Will Post Earnings of $0.43 Per Share
Wall Street analysts expect CONMED Co. (NYSE:CNMD) to announce earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CONMED’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.43. CONMED posted earnings per share of $0.51 in the same quarter last year, which would indicate a negative year-over-year growth rate of 15.7%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, April 28th.
On average, analysts expect that CONMED will report full-year earnings of $2.95 per share for the current financial year, with EPS estimates ranging from $2.93 to $2.96. For the next fiscal year, analysts anticipate that the company will post earnings of $3.64 per share, with EPS estimates ranging from $3.57 to $3.69. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for CONMED.
CONMED (NYSE:CNMD) last issued its earnings results on Tuesday, January 26th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.07. CONMED had a net margin of 0.04% and a return on equity of 9.48%. The company had revenue of $252.80 million for the quarter, compared to the consensus estimate of $262.94 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year.
In other news, Director Mark E. Tryniski sold 3,490 shares of the company’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of $122.23, for a total value of $426,582.70. Following the completion of the sale, the director now directly owns 46,289 shares of the company’s stock, valued at approximately $5,657,904.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Curt R. Hartman sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $119.93, for a total value of $1,798,950.00. Following the completion of the sale, the chief executive officer now directly owns 125,957 shares of the company’s stock, valued at $15,106,023.01. The disclosure for this sale can be found here. Insiders have sold a total of 28,265 shares of company stock valued at $3,384,333 over the last three months. Company insiders own 5.39% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd increased its stake in CONMED by 108.3% during the 4th quarter. FIL Ltd now owns 250 shares of the company’s stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Inspire Advisors LLC bought a new stake in CONMED during the 4th quarter worth approximately $28,000. Dimension Capital Management LLC bought a new stake in CONMED during the 3rd quarter worth approximately $28,000. Vantage Consulting Group Inc bought a new stake in CONMED during the 4th quarter worth approximately $53,000. Finally, Veriti Management LLC bought a new stake in CONMED during the 4th quarter worth approximately $110,000.
Shares of NYSE CNMD opened at $128.08 on Friday. The firm’s 50-day simple moving average is $127.50 and its 200 day simple moving average is $114.85. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -3,202.00, a price-to-earnings-growth ratio of 3.48 and a beta of 1.55. The company has a quick ratio of 1.24, a current ratio of 2.26 and a debt-to-equity ratio of 1.11. CONMED has a 12-month low of $60.65 and a 12-month high of $136.30.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Shareholders of record on Monday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 12th. This represents a $0.80 annualized dividend and a yield of 0.62%. CONMED’s dividend payout ratio is currently 30.30%.
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. It 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, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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