Conmed Corp. (NASDAQ:CNMD) – Research analysts at Leerink Swann dropped their Q1 2017 earnings estimates for Conmed Corp. in a report issued on Tuesday. Leerink Swann analyst R. Newitter now expects that the firm will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.47. Leerink Swann has a “Neutral” rating on the stock. Leerink Swann also issued estimates for Conmed Corp.’s Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.45 EPS, Q4 2017 earnings at $0.66 EPS and FY2017 earnings at $2.02 EPS.

Conmed Corp. (NASDAQ:CNMD) last issued its earnings results on Thursday, October 27th. The medical technology company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Conmed Corp. had a return on equity of 8.26% and a net margin of 2.11%. The company earned $184.79 million during the quarter, compared to the consensus estimate of $180.13 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year.

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Earnings History and Estimates for Conmed Corp. (NASDAQ:CNMD)

A number of other analysts have also issued reports on the company. Needham & Company LLC increased their target price on Conmed Corp. from $49.00 to $53.00 and gave the company a “buy” rating in a report on Friday, November 18th. Zacks Investment Research upgraded Conmed Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 27th.

Conmed Corp. (NASDAQ:CNMD) opened at 45.075 on Thursday. The company has a 50-day moving average price of $41.46 and a 200-day moving average price of $42.06. The stock has a market cap of $1.25 billion, a P/E ratio of 80.491 and a beta of 0.81. Conmed Corp. has a one year low of $35.51 and a one year high of $50.16.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Thursday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. Conmed Corp.’s dividend payout ratio is 142.86%.

In related news, EVP Daniel Jonas sold 1,500 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $41.78, for a total transaction of $62,670.00. Following the completion of the sale, the executive vice president now directly owns 16,590 shares in the company, valued at $693,130.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.91% of the company’s stock.

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Several hedge funds have recently made changes to their positions in CNMD. PineBridge Investments L.P. raised its stake in shares of Conmed Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,273 shares of the medical technology company’s stock valued at $157,000 after buying an additional 124 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Conmed Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,490 shares of the medical technology company’s stock valued at $167,000 after buying an additional 429 shares in the last quarter. Suntrust Banks Inc. bought a new position in Conmed Corp. during the second quarter valued at $205,000. SG Americas Securities LLC bought a new position in Conmed Corp. during the third quarter valued at $173,000. Finally, CNA Financial Corp bought a new position in Conmed Corp. during the second quarter valued at $229,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Conmed Corp. Company Profile

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.

5 Day Chart for NASDAQ:CNMD

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