CONMED (CNMD) Issues FY 2018 Earnings Guidance

CONMED (NASDAQ:CNMD) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided EPS guidance of $2.15-2.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.17. CONMED also updated its FY18 guidance to $2.15-2.20 EPS.

CNMD stock traded down $2.90 during trading on Friday, hitting $67.04. The company had a trading volume of 453,094 shares, compared to its average volume of 222,492. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.97 and a quick ratio of 1.15. CONMED has a 12 month low of $49.22 and a 12 month high of $83.49. The stock has a market capitalization of $1.90 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Thursday, November 1st. The medical technology company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CONMED had a net margin of 8.85% and a return on equity of 9.51%. The firm had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $198.51 million. During the same quarter in the previous year, the company posted $0.42 EPS. CONMED’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts expect that CONMED will post 2.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 8th. Investors of record on Friday, September 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, September 13th. CONMED’s dividend payout ratio (DPR) is presently 42.33%.

Several research analysts recently weighed in on CNMD shares. Leerink Swann boosted their price objective on shares of CONMED from $76.00 to $81.00 and gave the stock a market perform rating in a research report on Thursday, August 30th. BidaskClub cut shares of CONMED from a strong-buy rating to a buy rating in a research report on Thursday, September 20th. Zacks Investment Research upgraded shares of CONMED from a sell rating to a hold rating in a research report on Tuesday, September 25th. Barclays set a $78.00 price objective on shares of CONMED and gave the stock an equal weight rating in a research report on Tuesday, October 16th. Finally, Needham & Company LLC boosted their price objective on shares of CONMED from $73.00 to $83.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $74.40.

In other CONMED news, EVP Peter K. Shagory sold 2,500 shares of the company’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now owns 3,655 shares in the company, valued at approximately $292,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stanley W. Peters III sold 1,500 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $80.43, for a total transaction of $120,645.00. Following the sale, the vice president now owns 1,496 shares of the company’s stock, valued at approximately $120,323.28. The disclosure for this sale can be found here. Insiders own 3.13% of the company’s stock.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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