Brokers Issue Forecasts for CONMED Co.’s Q1 2018 Earnings (CNMD)

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.

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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.

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