CONMED (NASDAQ:CNMD) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. CONMED has set its FY 2019 guidance at $2.42-2.47 EPS and its FY19 guidance at $2.42-$2.47 EPS.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Tuesday, January 22nd. The medical technology company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. CONMED had a return on equity of 9.65% and a net margin of 4.75%. The business had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $228.40 million. During the same quarter in the previous year, the firm earned $0.69 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts expect CONMED to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
NASDAQ CNMD opened at $79.42 on Monday. CONMED has a twelve month low of $56.90 and a twelve month high of $84.38. The company has a quick ratio of 1.37, a current ratio of 2.33 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.24 billion, a P/E ratio of 36.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67.
In related news, EVP Peter K. Shagory sold 4,000 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $69.29, for a total value of $277,160.00. Following the completion of the sale, the executive vice president now directly owns 5,155 shares in the company, valued at approximately $357,189.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dirk Kuyper sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.39, for a total transaction of $166,780.00. Following the completion of the sale, the director now owns 13,906 shares of the company’s stock, valued at $1,159,621.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,000 shares of company stock valued at $677,250. 4.38% of the stock is owned by corporate insiders.
CNMD has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on CONMED in a research report on Wednesday, April 17th. They set a “buy” rating and a $95.00 price objective for the company. BidaskClub raised CONMED from a “sell” rating to a “hold” rating in a research report on Friday, December 28th. Needham & Company LLC boosted their price objective on CONMED to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Zacks Investment Research lowered CONMED from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Finally, Barclays upped their price objective on CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $91.00.
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CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company 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, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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