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.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC raised their price objective on shares of CONMED from $58.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, January 9th. BidaskClub upgraded shares of CONMED from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $46.00 price objective on shares of CONMED in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.00.

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.

COPYRIGHT VIOLATION WARNING: “CONMED Co. (CNMD) to Post Q1 2018 Earnings of $0.42 Per Share, Leerink Swann Forecasts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2018/02/04/conmed-co-cnmd-to-post-q1-2018-earnings-of-0-42-per-share-leerink-swann-forecasts.html.

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.

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