Leerink Swann Equities Analysts Cut Earnings Estimates for CONMED Corporation (CNMD)

CONMED Corporation (NASDAQ:CNMD) – Investment analysts at Leerink Swann lowered their Q3 2017 EPS estimates for CONMED Corporation in a research note issued on Wednesday. Leerink Swann analyst R. Newitter now forecasts that the medical technology company will earn $0.39 per share for the quarter, down from their previous forecast of $0.43. Leerink Swann also issued estimates for CONMED Corporation’s Q4 2017 earnings at $0.72 EPS.

CONMED Corporation (NASDAQ:CNMD) last issued its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to analyst estimates of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. CONMED Corporation’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. TRADEMARK VIOLATION WARNING: “Leerink Swann Equities Analysts Cut Earnings Estimates for CONMED Corporation (CNMD)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/08/19/leerink-swann-equities-analysts-cut-earnings-estimates-for-conmed-corporation-cnmd-updated-updated.html.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Needham & Company LLC lifted their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Ladenburg Thalmann Financial Services cut shares of CONMED Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $50.00 to $48.00 in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. CONMED Corporation currently has an average rating of “Hold” and a consensus price target of $49.33.

CONMED Corporation (NASDAQ:CNMD) opened at 51.32 on Monday. The company’s 50-day moving average is $50.85 and its 200 day moving average is $46.98. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 91.81 and a beta of 0.67. CONMED Corporation has a 52 week low of $37.60 and a 52 week high of $52.82.

Hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its stake in CONMED Corporation by 1.0% in 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. Bessemer Group Inc. boosted its stake in CONMED Corporation by 8,448.3% in the second quarter. Bessemer Group Inc. now owns 34,706 shares of the medical technology company’s stock valued at $1,768,000 after buying an additional 34,300 shares during the period. Rothschild Asset Management Inc. boosted its stake in CONMED Corporation by 0.3% in 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. Pillar Pacific Capital Management LLC bought a new stake in CONMED Corporation during the second quarter valued at $229,000. Finally, Great West Life Assurance Co. Can boosted its stake in CONMED Corporation by 6.0% in the second quarter. Great West Life Assurance Co. Can now owns 37,212 shares of the medical technology company’s stock valued at $1,895,000 after buying an additional 2,091 shares during the period. Institutional investors and hedge funds own 99.77% of the company’s stock.

In related news, EVP Daniel Jonas sold 3,000 shares of CONMED Corporation stock in a transaction on Monday, May 15th. The shares were sold at an average price of $51.22, for a total value of $153,660.00. Following the sale, the executive vice president now owns 14,455 shares in the company, valued at $740,385.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dirk Kuyper sold 1,000 shares of CONMED Corporation stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total transaction of $52,240.00. Following the completion of the sale, the director now owns 10,739 shares in the company, valued at approximately $561,005.36. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, June 13th. CONMED Corporation’s dividend payout ratio (DPR) is currently 142.86%.

CONMED Corporation 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.

Earnings History and Estimates for CONMED Corporation (NASDAQ:CNMD)

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