CONMED (NYSE:CNMD) Issues FY 2025 Earnings Guidance

Key Points

• CONMED has provided its FY 2025 earnings guidance, with EPS projected between 4.400-4.550, surpassing the consensus estimate of 4.395.
• The company recently declared a quarterly dividend of $0.20, resulting in an annual yield of 1.59%.
• Several research analysts have downgraded CONMED's rating to "hold," with target prices ranging from $55.00 to $62.20.

CONMED (NYSE:CNMD - Get Free Report) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.400-4.550 for the period, compared to the consensus earnings per share estimate of 4.395. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion.

CONMED Trading Up 2.2%

Shares of CNMD stock traded up $1.10 on Friday, hitting $52.25. The stock had a trading volume of 626,071 shares, compared to its average volume of 487,359. The firm has a market capitalization of $1.62 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.26 and a quick ratio of 1.00. The company's 50 day moving average price is $53.02 and its 200-day moving average price is $57.47. CONMED has a 1 year low of $46.00 and a 1 year high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $342.35 million during the quarter, compared to the consensus estimate of $338.42 million. CONMED had a return on equity of 14.60% and a net margin of 8.31%. CONMED's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, June 13th. CONMED's payout ratio is currently 22.66%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNMD. Piper Sandler dropped their target price on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut CONMED from a "buy" rating to a "hold" rating and decreased their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, Needham & Company LLC cut CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective for the company. in a research note on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $59.80.

Insiders Place Their Bets

In related news, Director Charles Farkas sold 4,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director owned 16,346 shares in the company, valued at $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CONMED by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company's stock valued at $4,993,000 after purchasing an additional 4,565 shares during the period. Intech Investment Management LLC boosted its position in CONMED by 34.6% during the first quarter. Intech Investment Management LLC now owns 22,505 shares of the company's stock worth $1,359,000 after purchasing an additional 5,780 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CONMED by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company's stock worth $1,108,000 after purchasing an additional 800 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in CONMED by 19.9% during the first quarter. AQR Capital Management LLC now owns 14,199 shares of the company's stock worth $857,000 after purchasing an additional 2,357 shares in the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.