CONMED (CNMD) Scheduled to Post Earnings on Wednesday

CONMED (NYSE:CNMD) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect CONMED to post earnings of $0.74 per share for the quarter. CONMED has set its FY24 guidance at $4.30-4.40 EPS and its FY 2024 guidance at 4.300-4.400 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). CONMED had a net margin of 5.18% and a return on equity of 13.69%. The company had revenue of $327.05 million for the quarter, compared to analysts’ expectations of $332.94 million. On average, analysts expect CONMED to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

CONMED Stock Performance

NYSE:CNMD opened at $72.61 on Tuesday. The stock’s fifty day moving average is $79.33 and its 200 day moving average is $94.24. CONMED has a fifty-two week low of $70.57 and a fifty-two week high of $138.47. The firm has a market capitalization of $2.24 billion, a PE ratio of 35.59, a PEG ratio of 0.66 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.10%. CONMED’s payout ratio is presently 39.22%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CNMD shares. Needham & Company LLC increased their target price on CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. reduced their target price on CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Piper Sandler reduced their target price on CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Wells Fargo & Company reduced their target price on CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CONMED presently has a consensus rating of “Moderate Buy” and an average price target of $120.43.

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.