CONMED (CNMD) Updates FY 2019 Earnings Guidance

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CONMED (NASDAQ:CNMD) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.47-2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.45. The company issued revenue guidance of $937-945.597 million, compared to the consensus revenue estimate of $936.33 million.CONMED also updated its FY19 guidance to $2.47-2.52 EPS.

CNMD traded up $1.31 during midday trading on Thursday, hitting $81.32. 793,607 shares of the company traded hands, compared to its average volume of 314,071. The company has a quick ratio of 1.37, a current ratio of 2.33 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 2.52 and a beta of 0.67. CONMED has a 52-week low of $56.90 and a 52-week high of $85.91.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Wednesday, April 24th. The medical technology company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.03. The business had revenue of $218.38 million for the quarter, compared to the consensus estimate of $213.95 million. CONMED had a net margin of 4.75% and a return on equity of 9.65%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. On average, research analysts forecast that CONMED will post 2.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is 36.70%.

A number of brokerages have recently commented on CNMD. Barclays increased their target price on shares of CONMED from $85.00 to $92.00 and gave the company an overweight rating in a research report on Monday, April 15th. Zacks Investment Research cut shares of CONMED from a hold rating to a sell rating in a research report on Monday, January 21st. Needham & Company LLC reiterated a buy rating and issued a $94.00 target price (up from $87.00) on shares of CONMED in a research report on Tuesday, April 16th. BidaskClub upgraded shares of CONMED from a hold rating to a buy rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus began coverage on shares of CONMED in a research report on Wednesday, April 17th. They issued a buy rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $91.00.

In related news, Director Dirk Kuyper sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.39, for a total transaction of $166,780.00. Following the completion of the sale, the director now directly owns 13,906 shares in the company, valued at $1,159,621.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter K. Shagory sold 4,000 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $69.29, for a total transaction of $277,160.00. Following the sale, the executive vice president now owns 5,155 shares of the company’s stock, valued at $357,189.95. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $677,250 over the last quarter. Company insiders own 4.38% of the company’s stock.

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About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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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