Analysts Anticipate CONMED Co. (CNMD) Will Announce Quarterly Sales of $212.38 Million

Equities research analysts expect that CONMED Co. (NASDAQ:CNMD) will report $212.38 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for CONMED’s earnings. The lowest sales estimate is $211.73 million and the highest is $213.40 million. CONMED reported sales of $204.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is scheduled to issue its next earnings results 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 financial year, analysts anticipate that the firm will report sales of $808.56 million per share, with estimates ranging from $800.00 million to $817.32 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover CONMED.

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

Several research firms have weighed in on CNMD. KeyCorp reiterated a “hold” rating on shares of CONMED in a research report on Friday, November 3rd. Piper Jaffray Companies restated a “hold” rating and issued a $46.00 price target on shares of CONMED in a research report on Friday, November 3rd. Zacks Investment Research cut CONMED from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $58.00 price target on shares of CONMED in a research report on Friday, November 17th. Finally, BidaskClub cut CONMED from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. CONMED has a consensus rating of “Hold” and an average price target of $50.67.

CONMED (CNMD) traded down $0.19 during mid-day trading on Wednesday, reaching $50.98. The company’s stock had a trading volume of 63,286 shares, compared to its average volume of 146,915. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84. The company has a market cap of $1,429.38, a PE ratio of 91.04, a price-to-earnings-growth ratio of 3.28 and a beta of 0.66. CONMED has a 1 year low of $39.74 and a 1 year high of $54.77.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, December 14th. CONMED’s payout ratio is currently 142.86%.

In related news, CFO Luke A. Pomilio sold 12,429 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $50.63, for a total value of $629,280.27. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Luke A. Pomilio sold 10,020 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the transaction, the executive vice president now owns 44,472 shares in the company, valued at approximately $2,382,365.04. The disclosure for this sale can be found here. Insiders sold 51,812 shares of company stock worth $2,654,756 in the last 90 days. 2.62% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CNMD. Aperio Group LLC boosted its stake in CONMED by 10.7% in 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 in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in CONMED by 3.9% in 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 in the last quarter. Great West Life Assurance Co. Can boosted its stake in CONMED 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 in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in CONMED by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 167,338 shares of the medical technology company’s stock valued at $8,525,000 after buying an additional 4,152 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in CONMED in the second quarter valued at about $111,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

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CONMED 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.

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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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