CONMED (NYSE:CNMD – Get Free Report) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.980-1.000 for the period, compared to the consensus estimate of 0.990. The company issued revenue guidance of $315.0 million-$318.0 million, compared to the consensus revenue estimate of $318.7 million.
CONMED Price Performance
Shares of CNMD stock traded up $2.07 on Friday, hitting $68.63. 28,290 shares of the company’s stock were exchanged, compared to its average volume of 493,647. The company has a 50 day moving average of $70.99 and a 200 day moving average of $72.06. The stock has a market cap of $2.11 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.34 and a quick ratio of 1.13. CONMED has a 12 month low of $61.05 and a 12 month high of $117.27.
CONMED (NYSE:CNMD – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $332.10 million during the quarter, compared to analysts’ expectations of $334.39 million. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, equities research analysts predict that CONMED will post 3.99 EPS for the current year.
CONMED Announces Dividend
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on CNMD. Stifel Nicolaus cut their price objective on CONMED from $88.00 to $76.00 and set a buy rating on the stock in a report on Thursday, August 1st. Piper Sandler reduced their price target on CONMED from $95.00 to $80.00 and set an overweight rating on the stock in a report on Thursday, August 1st. Needham & Company LLC lowered their price objective on CONMED from $106.00 to $97.00 and set a buy rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of CONMED from $77.00 to $71.00 and set an equal weight rating on the stock in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of CONMED from a buy rating to a hold rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $79.80.
Read Our Latest Stock Report on CONMED
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.
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