CONMED Co. (CNMD) to Post Q1 2018 Earnings of $0.42 Per Share, Leerink Swann Forecasts
CONMED Co. (NASDAQ:CNMD) – Analysts at Leerink Swann lowered their Q1 2018 earnings estimates for CONMED in a research report issued to clients and investors on Thursday. Leerink Swann analyst R. Newitter now expects that the medical technology company will post earnings per share of $0.42 for the quarter, down from their prior forecast of $0.44. Leerink Swann also issued estimates for CONMED’s Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.48 EPS and FY2019 earnings at $2.36 EPS.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The firm had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $212.17 million. CONMED had a net margin of 6.97% and a return on equity of 9.15%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS.
Shares of CONMED (NASDAQ CNMD) opened at $63.21 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1,769.61, a price-to-earnings ratio of 32.09, a PEG ratio of 3.48 and a beta of 0.74. CONMED has a 52-week low of $39.74 and a 52-week high of $64.99.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, December 14th. CONMED’s dividend payout ratio is currently 40.61%.
In related news, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $63.90, for a total transaction of $191,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the transaction, the executive vice president now directly owns 45,486 shares in the company, valued at approximately $2,306,140.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,792 shares of company stock worth $2,309,684. 2.62% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in CONMED by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,294,366 shares of the medical technology company’s stock worth $116,875,000 after acquiring an additional 25,484 shares during the last quarter. Victory Capital Management Inc. grew its holdings in CONMED by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,225,574 shares of the medical technology company’s stock worth $113,438,000 after acquiring an additional 44,988 shares during the last quarter. Macquarie Group Ltd. grew its holdings in CONMED by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock worth $38,406,000 after acquiring an additional 89,078 shares during the last quarter. State Street Corp grew its holdings in CONMED by 3.4% in the 2nd quarter. State Street Corp now owns 701,058 shares of the medical technology company’s stock worth $35,715,000 after acquiring an additional 22,919 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in CONMED by 10.0% in the 2nd quarter. Northern Trust Corp now owns 640,851 shares of the medical technology company’s stock worth $32,645,000 after acquiring an additional 58,055 shares during the last quarter. 99.05% of the stock is currently owned by institutional investors.
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CONMED 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. 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.
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