CONMED (NYSE:CNMD – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.25-4.35 for the period, compared to the consensus earnings per share estimate of $4.33. The company issued revenue guidance of $1.330-1.355 billion, compared to the consensus revenue estimate of $1.35 billion. CONMED also updated its FY 2024 guidance to 4.250-4.350 EPS.
CONMED Price Performance
Shares of NYSE:CNMD traded down $8.25 during midday trading on Thursday, reaching $61.76. 1,351,134 shares of the company were exchanged, compared to its average volume of 568,824. CONMED has a one year low of $61.58 and a one year high of $138.47. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17. The business’s fifty day moving average is $78.80 and its two-hundred day moving average is $93.89. The stock has a market cap of $1.90 billion, a PE ratio of 30.36, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33.
CONMED (NYSE:CNMD – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 5.18% and a return on equity of 13.69%. The business had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. As a group, analysts predict that CONMED will post 4.34 earnings per share for the current year.
CONMED Announces Dividend
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of CONMED from $115.00 to $75.00 and set an overweight rating on the stock in a research note on Thursday. Needham & Company LLC reduced their target price on shares of CONMED from $129.00 to $107.00 and set a buy rating on the stock in a research note on Thursday. Piper Sandler reduced their target price on shares of CONMED from $100.00 to $95.00 and set an overweight rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of CONMED from $98.00 to $77.00 and set an equal weight rating on the stock in a research note on Thursday. Two investment 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 company has an average rating of Moderate Buy and an average price target of $107.86.
Read Our Latest Report on CONMED
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.
Featured Stories
- Five stocks we like better than CONMED
- How to Start Investing in Real Estate
- Hasbro’s Management Made All the Right Calls This Quarter
- What Does Downgrade Mean in Investing?
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- Find and Profitably Trade Stocks at 52-Week Lows
- Power Surge: Utilities Sector’s Resilience Shines
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.