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.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Needham & Company LLC dropped their price target on CONMED from $129.00 to $107.00 and set a buy rating for the company in a report on Thursday. Wells Fargo & Company dropped their price target on CONMED from $98.00 to $77.00 and set an equal weight rating for the company in a report on Thursday. Piper Sandler dropped their price objective on CONMED from $100.00 to $95.00 and set an overweight rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on CONMED from $115.00 to $75.00 and set an overweight rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CONMED has an average rating of Moderate Buy and an average price target of $107.86.
View Our Latest Research Report on CONMED
CONMED Price Performance
CONMED (NYSE:CNMD – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.99% and a net margin of 6.53%. As a group, analysts expect that CONMED will post 4.31 EPS for the current fiscal year.
CONMED Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 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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