CONMED Co. (NASDAQ:CNMD) – Stock analysts at KeyCorp issued their Q1 2018 earnings per share estimates for shares of CONMED in a report issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst M. Mishan expects that the medical technology company will earn $0.43 per share for the quarter. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for CONMED’s Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.74 EPS and FY2019 earnings at $2.40 EPS.
CNMD has been the subject of a number of other reports. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, January 9th. Needham & Company LLC upped their price target on CONMED from $58.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $46.00 price target on shares of CONMED in a research note on Friday, November 3rd. Finally, BidaskClub raised CONMED from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $59.00.
CONMED (NASDAQ:CNMD) traded up $0.86 during trading on Friday, reaching $60.09. 198,341 shares of the company’s stock were exchanged, compared to its average volume of 222,533. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. CONMED has a 52 week low of $39.74 and a 52 week high of $64.99. The firm has a market cap of $1,678.55, a P/E ratio of 31.63, a PEG ratio of 2.44 and a beta of 0.74.
CONMED (NASDAQ:CNMD) last released its earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 9.15%. The company had revenue of $222.60 million for the quarter, compared to the consensus estimate of $212.17 million. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up 9.1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new stake in CONMED during the 2nd quarter worth approximately $273,000. Swiss National Bank increased its stake in CONMED by 6.1% during the 2nd quarter. Swiss National Bank now owns 41,700 shares of the medical technology company’s stock worth $2,124,000 after purchasing an additional 2,400 shares in the last quarter. Macquarie Group Ltd. increased its stake in CONMED by 13.9% during the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock worth $38,406,000 after purchasing an additional 89,078 shares in the last quarter. Prudential Financial Inc. increased its stake in CONMED by 65.8% during the 3rd quarter. Prudential Financial Inc. now owns 118,365 shares of the medical technology company’s stock worth $6,211,000 after purchasing an additional 46,956 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in CONMED by 52.5% during the 3rd quarter. Rothschild Asset Management Inc. now owns 53,721 shares of the medical technology company’s stock worth $2,819,000 after purchasing an additional 18,489 shares in the last quarter. 99.21% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Luke A. Pomilio sold 18,023 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $63.38, for a total transaction of $1,142,297.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $63.90, for a total value of $191,700.00. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://ledgergazette.com/2018/02/11/keycorp-comments-on-conmed-co-s-q1-2018-earnings-cnmd.html.
CONMED Company Profile
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 provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.