CONMED Corporation (CNMD) Expected to Announce Quarterly Sales of $187.21 Million

Wall Street analysts predict that CONMED Corporation (NASDAQ:CNMD) will post $187.21 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CONMED Corporation’s earnings. The highest sales estimate is $188.02 million and the lowest is $186.40 million. CONMED Corporation reported sales of $184.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that CONMED Corporation will report full year sales of $187.21 million for the current financial year, with estimates ranging from $780.27 million to $784.10 million. For the next fiscal year, analysts anticipate that the firm will report sales of $807.02 million per share, with estimates ranging from $803.40 million to $810.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow CONMED Corporation.

CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $197.20 million during the quarter, compared to the consensus estimate of $194.50 million. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS.

CNMD has been the subject of a number of research reports. BidaskClub cut CONMED Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. KeyCorp reiterated a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price objective on shares of CONMED Corporation in a research report on Friday, September 1st. Zacks Investment Research cut CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet upgraded CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $49.33.

Shares of CONMED Corporation (CNMD) traded down 2.29% on Friday, reaching $53.00. The company’s stock had a trading volume of 131,120 shares. The stock has a 50-day moving average of $50.73 and a 200 day moving average of $49.55. CONMED Corporation has a 52-week low of $37.60 and a 52-week high of $54.47. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 94.81 and a beta of 0.68.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Thursday, September 14th. CONMED Corporation’s dividend payout ratio (DPR) is presently 142.86%.

In related news, Director Jo Ann Golden sold 3,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 19,782 shares in the company, valued at $989,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.62% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in CONMED Corporation by 3.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after acquiring an additional 64 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in CONMED Corporation during the first quarter valued at $106,000. SG Americas Securities LLC purchased a new stake in CONMED Corporation during the second quarter valued at $111,000. Karp Capital Management Corp bought a new stake in CONMED Corporation during the first quarter valued at about $202,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in CONMED Corporation during the first quarter valued at about $203,000. Institutional investors own 98.32% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “CONMED Corporation (CNMD) Expected to Announce Quarterly Sales of $187.21 Million” was published by BBNS and is owned by of BBNS. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/conmed-corporation-cnmd-expected-to-announce-quarterly-sales-of-187-21-million/1702810.html.

About CONMED Corporation

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. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

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

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

Earnings History and Estimates for CONMED Corporation (NASDAQ:CNMD)

Receive News & Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cora Becomes New Manager for Boston Red Sox
Alex Cora Becomes New Manager for Boston Red Sox
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends


Leave a Reply

 
© 2006-2017 BBNS.