CONMED (CNMD) Scheduled to Post Earnings on Wednesday

CONMED (NYSE:CNMD) is set to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect CONMED to post earnings of $0.74 per share for the quarter. CONMED has set its FY24 guidance at $4.30-4.40 EPS and its FY 2024 guidance at 4.300-4.400 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). CONMED had a return on equity of 13.69% and a net margin of 5.18%. The business had revenue of $327.05 million for the quarter, compared to analyst estimates of $332.94 million. On average, analysts expect CONMED to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

CONMED Trading Down 0.0 %

CNMD opened at $72.61 on Tuesday. The company’s 50 day moving average is $79.33 and its 200-day moving average is $94.24. The company has a market cap of $2.24 billion, a P/E ratio of 35.59, a PEG ratio of 0.66 and a beta of 1.33. CONMED has a 1-year low of $70.57 and a 1-year high of $138.47. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s payout ratio is 39.22%.

Analyst Ratings Changes

CNMD has been the topic of a number of analyst reports. Needham & Company LLC upped their price objective on shares of CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Wells Fargo & Company cut their target price on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Piper Sandler cut their target price on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.43.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.