CONMED (NYSE:CNMD – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.250-4.350 for the period, compared to the consensus earnings per share estimate of 4.330. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. CONMED also updated its FY24 guidance to $4.25-4.35 EPS.
CONMED Stock Up 6.3 %
CNMD stock traded up $3.88 during trading on Friday, hitting $65.78. 1,135,843 shares of the company’s stock traded hands, compared to its average volume of 573,520. CONMED has a 1 year low of $61.05 and a 1 year high of $138.47. The business has a fifty day simple moving average of $78.06 and a two-hundred day simple moving average of $93.44. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $2.03 billion, a P/E ratio of 25.20, a PEG ratio of 0.57 and a beta of 1.33.
CONMED (NYSE:CNMD – Get Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.99%. Sell-side analysts anticipate that CONMED will post 4.31 EPS for the current year.
CONMED Dividend Announcement
Analyst Upgrades and Downgrades
CNMD has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of CONMED from $98.00 to $77.00 and set an equal weight rating for the company in a research report on Thursday. Needham & Company LLC cut their price objective on shares of CONMED from $129.00 to $107.00 and set a buy rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of CONMED from $115.00 to $75.00 and set an overweight rating for the company in a report on Thursday. Finally, Piper Sandler cut their price objective on shares of CONMED from $100.00 to $95.00 and set an overweight rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $107.86.
Read Our Latest Report on CNMD
CONMED Company Profile
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.
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