Analysts Offer Predictions for CONMED Co.s Q1 2020 Earnings (NASDAQ:CNMD) – Riverton Roll

CONMED Co. (NASDAQ:CNMD) Investment analysts at KeyCorp issued their Q1 2020 earnings per share estimates for shares of CONMED in a note issued to investors on Wednesday, January 29th. KeyCorp analyst M. Mishan forecasts that the medical technology company will earn $0.62 per share for the quarter. KeyCorp also issued estimates for CONMEDs Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $1.09 EPS and FY2021 earnings at $3.57 EPS.

CONMED (NASDAQ:CNMD) last posted its earnings results on Wednesday, January 29th. The medical technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.89 by $0.01. The business had revenue of $264.90 million during the quarter, compared to the consensus estimate of $264.83 million. CONMED had a return on equity of 11.18% and a net margin of 3.00%. The businesss quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 EPS.

Several other analysts also recently commented on the company. BidaskClub downgraded CONMED from a hold rating to a sell rating in a research note on Friday, January 31st. Needham & Company LLC downgraded CONMED from a buy rating to a hold rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. assumed coverage on CONMED in a research note on Tuesday, November 12th. They set an overweight rating and a $136.00 price objective for the company. Finally, Zacks Investment Research downgraded CONMED from a buy rating to a hold rating and set a $107.00 price objective for the company. in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the companys stock. CONMED has an average rating of Hold and a consensus price target of $112.00.

CNMD opened at $103.13 on Monday. The business has a 50 day moving average price of $109.25 and a two-hundred day moving average price of $102.97. The company has a quick ratio of 1.40, a current ratio of 2.48 and a debt-to-equity ratio of 1.11. The company has a market cap of $2.89 billion, a PE ratio of 108.56, a P/E/G ratio of 2.18 and a beta of 0.56. CONMED has a 52 week low of $68.10 and a 52 week high of $116.81.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, December 12th. CONMEDs dividend payout ratio (DPR) is 30.30%.

In other news, VP John Jed Kennedy sold 11,354 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $114.01, for a total transaction of $1,294,469.54. Corporate insiders own 4.38% of the companys stock.

Several hedge funds have recently modified their holdings of the company. Texas Permanent School Fund raised its stake in shares of CONMED by 0.8% during the 4th quarter. Texas Permanent School Fund now owns 19,411 shares of the medical technology companys stock worth $2,171,000 after buying an additional 154 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of CONMED by 2.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 8,660 shares of the medical technology companys stock worth $968,000 after buying an additional 170 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of CONMED by 2.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,824 shares of the medical technology companys stock worth $848,000 after buying an additional 192 shares in the last quarter. First Trust Advisors LP raised its stake in shares of CONMED by 0.7% during the 4th quarter. First Trust Advisors LP now owns 32,809 shares of the medical technology companys stock worth $3,669,000 after buying an additional 215 shares in the last quarter. Finally, Brinker Capital Inc. raised its stake in shares of CONMED by 7.7% during the 3rd quarter. Brinker Capital Inc. now owns 3,861 shares of the medical technology companys stock worth $371,000 after buying an additional 277 shares in the last quarter.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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Analysts Offer Predictions for CONMED Co.s Q1 2020 Earnings (NASDAQ:CNMD) - Riverton Roll