Conmed Corp. (NASDAQ:CNMD) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.83-1.93 for the period, compared to the Thomson Reuters consensus estimate of $1.90. The company issued revenue guidance of $757-767 million, compared to the consensus revenue estimate of $771.67 million.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Conmed Corp. from a buy rating to a hold rating in a research report on Tuesday, July 12th. Needham & Company LLC boosted their price objective on shares of Conmed Corp. from $48.00 to $49.00 and gave the stock a buy rating in a research report on Thursday, April 28th. Finally, Leerink Swann reissued a buy rating on shares of Conmed Corp. in a research report on Thursday, April 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $49.83.
Shares of Conmed Corp. (NASDAQ:CNMD) traded down 0.33% during trading on Wednesday, reaching $48.20. 238,186 shares of the company were exchanged. The firm’s 50 day moving average price is $46.33 and its 200 day moving average price is $41.78. The company has a market capitalization of $1.34 billion and a PE ratio of 61.72. Conmed Corp. has a one year low of $35.51 and a one year high of $57.96.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Monday, June 13th.
In other news, CFO Luke A. Pomilio sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $41.56, for a total transaction of $182,864.00. Following the completion of the sale, the chief financial officer now owns 41,884 shares of the company’s stock, valued at approximately $1,740,699.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. Its products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
