$247.87 Million in Sales Expected for CONMED Co. (NYSE:CNMD) This Quarter

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

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.

Featured Article: What is a good rate of return for a mutual fund?

Get a free copy of the Zacks research report on CONMED (CNMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CONMED (NYSE:CNMD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in CONMED right now?

Before you consider CONMED, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CONMED wasn't on the list.

While CONMED currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.