CONMED (NYSE:CNMD – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.000-4.050 for the period, compared to the consensus EPS estimate of 3.990. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. CONMED also updated its FY24 guidance to $4.00-4.05 EPS.
Analyst Ratings Changes
CNMD has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Friday, October 4th. Wells Fargo & Company reduced their target price on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler reduced their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com raised CONMED from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus price target of $79.80.
Read Our Latest Research Report on CNMD
CONMED Stock Up 0.9 %
CONMED (NYSE:CNMD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The company had revenue of $332.10 million during the quarter, compared to the consensus estimate of $334.39 million. During the same period last year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that CONMED will post 3.99 EPS for the current fiscal year.
CONMED Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, September 16th. CONMED’s dividend payout ratio (DPR) is 30.65%.
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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