CONMED (CNMD) to Release Earnings on Wednesday

CONMED (NYSE:CNMD - Get Free Report) will be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect CONMED to post earnings of $0.99 per share for the quarter. CONMED has set its FY 2024 guidance at 3.950-4.020 EPS.Individual that are interested in participating in the company's earnings conference call can do so using this link.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly 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 company had revenue of $332.10 million for the quarter, compared to analysts' expectations of $334.39 million. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, analysts expect CONMED to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

CONMED Price Performance

Shares of CONMED stock traded down $0.75 on Wednesday, hitting $62.30. 270,690 shares of the company traded hands, compared to its average volume of 489,363. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The business has a 50-day simple moving average of $70.05 and a 200 day simple moving average of $70.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. The stock has a market capitalization of $1.92 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a $0.20 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. CONMED's dividend payout ratio is currently 30.65%.

Wall Street Analyst Weigh In

CNMD has been the topic of several research reports. Wells Fargo & Company reduced their target price on CONMED from $77.00 to $71.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $97.00 price objective on shares of CONMED in a report on Friday, October 4th. Piper Sandler cut their target price on shares of CONMED from $95.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, August 1st. Stifel Nicolaus decreased their price target on shares of CONMED from $88.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of CONMED from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. One 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.