CONMED Corporation (CNMD) Releases FY17 Earnings Guidance

CONMED Corporation (NASDAQ:CNMD) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.85-1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.86.

Shares of CONMED Corporation (NASDAQ CNMD) traded down 0.24% during mid-day trading on Friday, reaching $49.29. 89,869 shares of the company’s stock traded hands. The firm has a 50-day moving average of $50.36 and a 200 day moving average of $47.28. The company has a market cap of $1.38 billion, a P/E ratio of 88.18 and a beta of 0.67. CONMED Corporation has a 12-month low of $37.60 and a 12-month high of $52.82.

CONMED Corporation (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities analysts forecast that CONMED Corporation will post $1.87 EPS for the current year.

A number of equities research analysts recently weighed in on CNMD shares. BidaskClub downgraded shares of CONMED Corporation from a buy rating to a hold rating in a research note on Thursday, June 29th. Zacks Investment Research cut shares of CONMED Corporation from a hold rating to a sell rating in a research report on Tuesday, June 27th. Needham & Company LLC increased their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the company a buy rating in a research report on Thursday, July 27th. Ladenburg Thalmann Financial Services cut shares of CONMED Corporation from a buy rating to a neutral rating and reduced their price target for the company from $50.00 to $48.00 in a research report on Thursday, April 27th. Finally, TheStreet upgraded shares of CONMED Corporation from a c+ rating to a b- rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. CONMED Corporation currently has an average rating of Hold and an average target price of $49.33.

In other news, Director Dirk Kuyper sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the transaction, the director now owns 10,739 shares in the company, valued at $561,005.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $51.22, for a total transaction of $153,660.00. Following the completion of the transaction, the executive vice president now owns 14,455 shares in the company, valued at approximately $740,385.10. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.

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CONMED Corporation 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.

Earnings History and Estimates for CONMED Corporation (NASDAQ:CNMD)

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