CONMED Co. (CNMD) Expected to Earn Q1 2016 Earnings of $0.37 Per Share

Posted by ABMN Staff on Mar 23rd, 2016

CONMED Co. (NASDAQ:CNMD) – Analysts at KeyBanc cut their Q1 2016 earnings per share (EPS) estimates for CONMED in a research note issued on Monday, Zacks Investment Research reports. KeyBanc analyst M. Mishan now forecasts that the brokerage will earn $0.37 per share for the quarter, down from their previous forecast of $0.40. The consensus estimate for CONMED’s Q1 2016 earnings is $0.41 per share. KeyBanc also issued estimates for CONMED’s Q2 2016 earnings at $0.45 EPS and Q3 2016 earnings at $0.44 EPS.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of CONMED in a report on Monday, March 7th. Leerink Swann reaffirmed a “buy” rating and set a $50.00 price objective (down from $51.00) on shares of CONMED in a report on Thursday, January 28th. Finally, Zacks Investment Research raised shares of CONMED from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, January 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $53.63.

Shares of CONMED (NASDAQ:CNMD) traded down 0.20% during trading on Wednesday, reaching $39.95. 51,875 shares of the company traded hands. The firm has a 50 day moving average of $38.86 and a 200 day moving average of $42.63. CONMED has a 52 week low of $35.51 and a 52 week high of $60.66. The stock has a market capitalization of $1.11 billion and a PE ratio of 36.65.

CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, January 27th. The medical technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm had revenue of $191 million for the quarter, compared to the consensus estimate of $191.03 million. The business’s revenue for the quarter was down 2.1% on a year-over-year basis.

An institutional investor recently raised its position in CONMED stock. Russell Frank Co boosted its position in CONMED Co. (NASDAQ:CNMD) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,834 shares of the medical technology company’s stock after buying an additional 6,360 shares during the period. Russell Frank Co owned about 0.59% of CONMED worth $7,268,000 at the end of the most recent reporting period.

In other news, Director John L. Workman bought 2,500 shares of CONMED stock in a transaction on Wednesday, March 2nd. The shares were bought at an average cost of $39.85 per share, with a total value of $99,625.00. Following the completion of the purchase, the director now directly owns 4,500 shares of the company’s stock, valued at $179,325. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark D. Snyder sold 2,940 shares of CONMED stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $41.32, for a total transaction of $121,480.80. Following the transaction, the executive vice president now directly owns 14,262 shares in the company, valued at $589,305.84. The disclosure for this sale can be found here.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 5th. Stockholders of record on Tuesday, March 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 11th.

CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company’s products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.