CONMED (CNMD) Set to Announce Quarterly Earnings on Wednesday

CONMED (NYSE:CNMD) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.99 per share for the quarter. CONMED has set its FY 2024 guidance at 3.950-4.020 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $332.10 million during the quarter, compared to analyst estimates of $334.39 million. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. On average, analysts expect CONMED to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

CONMED Stock Up 2.6 %

NYSE:CNMD opened at $63.75 on Tuesday. CONMED has a 1-year low of $61.05 and a 1-year high of $117.27. The company has a market capitalization of $1.96 billion, a PE ratio of 24.43, a P/E/G ratio of 0.82 and a beta of 1.46. The firm’s 50-day moving average price is $69.67 and its 200-day moving average price is $70.27. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, September 16th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price target on shares of CONMED in a research report on Friday, October 4th. Stifel Nicolaus dropped their target price on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. StockNews.com upgraded CONMED from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Piper Sandler cut their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

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.