CONMED (NYSE:CNMD – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.250-4.350 for the period, compared to the consensus EPS estimate of 4.330. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. CONMED also updated its FY24 guidance to $4.25-4.35 EPS.
Analysts Set New Price Targets
Several research analysts have commented on the company. Wells Fargo & Company cut their target price on CONMED from $98.00 to $77.00 and set an equal weight rating on the stock in a report on Thursday. Piper Sandler reduced their price target on shares of CONMED from $100.00 to $95.00 and set an overweight rating for the company in a report on Thursday. Needham & Company LLC decreased their price target on shares of CONMED from $129.00 to $107.00 and set a buy rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CONMED from $115.00 to $75.00 and set an overweight rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $107.86.
Read Our Latest Stock Report on CNMD
CONMED Stock Performance
CONMED (NYSE:CNMD – Get Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. Equities research analysts expect that CONMED will post 4.34 EPS for the current year.
CONMED Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s payout ratio is currently 39.22%.
CONMED Company Profile
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.
Recommended Stories
- Five stocks we like better than CONMED
- 3 Warren Buffett Stocks to Buy Now
- Hasbro’s Management Made All the Right Calls This Quarter
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- What Are Dividend Achievers? An Introduction
- Power Surge: Utilities Sector’s Resilience Shines
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.