CONMED Corporation (CNMD) Announces Quarterly Earnings Results

CONMED Corporation (NASDAQ:CNMD) issued its earnings results on Thursday. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01, Bloomberg Earnings reports. The business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $187.13 million. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.43%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. CONMED Corporation updated its FY17 guidance to $1.85-1.90 EPS.

CONMED Corporation (NASDAQ:CNMD) opened at $53.37 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.57 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 3.35 and a beta of 0.66.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were given a $0.20 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. CONMED Corporation’s payout ratio is currently 142.86%.

Several research analysts have recently weighed in on the stock. KeyCorp reissued a “hold” rating on shares of CONMED Corporation in a report on Friday. BidaskClub cut shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Zacks Investment Research raised shares of CONMED Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies reissued a “hold” rating and set a $46.00 price objective on shares of CONMED Corporation in a report on Friday. Finally, TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.33.

In other news, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 19,782 shares of the company’s stock, valued at approximately $989,100. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.62% of the company’s stock.

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About CONMED Corporation

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 for CONMED Corporation (NASDAQ:CNMD)

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