Conmed Corp. (NASDAQ:CNMD) – Research analysts at Leerink Swann cut their Q1 2017 earnings per share estimates for shares of Conmed Corp. in a research note issued on Tuesday. Leerink Swann analyst R. Newitter now expects that the brokerage will post earnings per share of $0.43 for the quarter, down from their prior estimate of $0.47. Leerink Swann currently has a “Neutral” rating on the stock. Leerink Swann also issued estimates for Conmed Corp.’s Q2 2017 earnings at $0.48 EPS, Q3 2017 earnings at $0.45 EPS, Q4 2017 earnings at $0.66 EPS and FY2017 earnings at $2.02 EPS.
Conmed Corp. (NASDAQ:CNMD) last posted its quarterly earnings results on Thursday, October 27th. The medical technology company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Conmed Corp. had a net margin of 2.11% and a return on equity of 8.26%. The firm had revenue of $184.79 million for the quarter, compared to analysts’ expectations of $180.13 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis.
Several other equities research analysts have also recently issued reports on CNMD. Zacks Investment Research cut shares of Conmed Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Needham & Company LLC boosted their price objective on shares of Conmed Corp. from $49.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, November 18th.
Shares of Conmed Corp. (NASDAQ:CNMD) opened at 45.11 on Thursday. The stock’s 50 day moving average is $41.31 and its 200-day moving average is $42.04. Conmed Corp. has a 12-month low of $35.51 and a 12-month high of $50.16. The stock has a market cap of $1.26 billion, a PE ratio of 80.55 and a beta of 0.81.
Several large investors have recently bought and sold shares of CNMD. Scopia Capital Management LP acquired a new stake in Conmed Corp. during the third quarter valued at approximately $111,128,000. Dimensional Fund Advisors LP raised its stake in Conmed Corp. by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,350,620 shares of the medical technology company’s stock valued at $112,193,000 after buying an additional 38,595 shares in the last quarter. BlackRock Fund Advisors raised its stake in Conmed Corp. by 5.9% in the third quarter. BlackRock Fund Advisors now owns 1,784,214 shares of the medical technology company’s stock valued at $71,476,000 after buying an additional 99,778 shares in the last quarter. Victory Capital Management Inc. raised its stake in Conmed Corp. by 70.7% in the third quarter. Victory Capital Management Inc. now owns 1,679,961 shares of the medical technology company’s stock valued at $67,299,000 after buying an additional 696,008 shares in the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Conmed Corp. by 61.1% in the second quarter. Champlain Investment Partners LLC now owns 1,465,640 shares of the medical technology company’s stock valued at $69,955,000 after buying an additional 556,060 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.
In other news, EVP Daniel Jonas sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $41.78, for a total value of $62,670.00. Following the completion of the sale, the executive vice president now owns 16,590 shares in the company, valued at approximately $693,130.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.91% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. Conmed Corp.’s dividend payout ratio is currently 142.86%.
About Conmed Corp.