Equities research analysts expect that CONMED Co. (NYSE:CNMD) will announce $247.87 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CONMED's earnings, with the highest sales estimate coming in at $254.52 million and the lowest estimate coming in at $241.10 million. CONMED posted sales of $157.79 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 57.1%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, July 28th.
On average, analysts expect that CONMED will report full-year sales of $1.02 billion for the current year, with estimates ranging from $1.02 billion to $1.03 billion. For the next year, analysts anticipate that the business will post sales of $1.11 billion, with estimates ranging from $1.09 billion to $1.11 billion. Zacks' sales averages are an average based on a survey of research firms that cover CONMED.
CONMED (NYSE:CNMD) last released its quarterly earnings data on Tuesday, April 27th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.19. The business had revenue of $232.68 million during the quarter, compared to analysts' expectations of $216.88 million. CONMED had a return on equity of 9.77% and a net margin of 1.53%. The business's revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS.
A number of research analysts have recently commented on CNMD shares. Barclays started coverage on CONMED in a research note on Monday, May 24th. They issued an "overweight" rating and a $175.00 target price for the company. Piper Sandler raised their target price on CONMED from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, April 29th. Finally, UBS Group started coverage on CONMED in a research note on Thursday, July 15th. They issued a "buy" rating and a $160.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. The stock presently has an average rating of "Buy" and an average price target of $137.40.
CNMD opened at $134.39 on Thursday. The stock has a market cap of $3.91 billion, a PE ratio of 344.59, a PEG ratio of 4.04 and a beta of 1.56. The company has a current ratio of 2.33, a quick ratio of 1.20 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $136.80. CONMED has a 52 week low of $69.60 and a 52 week high of $146.95.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 6th. Shareholders of record on Tuesday, June 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Monday, June 14th. CONMED's payout ratio is 36.70%.
In other CONMED news, CEO Curt R. Hartman sold 13,030 shares of CONMED stock in a transaction on Friday, May 14th. The stock was sold at an average price of $142.87, for a total transaction of $1,861,596.10. Following the completion of the transaction, the chief executive officer now owns 114,827 shares in the company, valued at $16,405,333.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd W. Garner sold 960 shares of CONMED stock in a transaction on Tuesday, June 15th. The shares were sold at an average price of $137.04, for a total value of $131,558.40. Following the transaction, the chief financial officer now owns 2,672 shares of the company's stock, valued at approximately $366,170.88. The disclosure for this sale can be found here. Insiders have sold 82,087 shares of company stock valued at $11,247,998 in the last quarter. 1.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. FIL Ltd increased its holdings in shares of CONMED by 108.3% in the 4th quarter. FIL Ltd now owns 250 shares of the company's stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of CONMED in the 1st quarter worth $150,000. Captrust Financial Advisors increased its holdings in shares of CONMED by 386.8% in the 1st quarter. Captrust Financial Advisors now owns 1,217 shares of the company's stock worth $159,000 after purchasing an additional 967 shares in the last quarter. FORA Capital LLC bought a new stake in shares of CONMED in the 1st quarter worth $194,000. Finally, ARGI Investment Services LLC bought a new stake in shares of CONMED in the 1st quarter worth $201,000.
CONMED Corp. operates as a medical technology company, which engages in the development, manufacture and sale of surgical devices and related equipment. It operates through the following geographical segments: United States; Americas excluding the United States; Europe, Middle East, and Africa; and Asia Pacific.
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