Conmed Corp reports results for the quarter ended in March - Earnings Summary

Conmed

24/04/2024 22:01

* Conmed Corp  CNMD.N  reported quarterly adjusted earnings
of 79
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 66
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 74 cents per share. Wall Street expected
results to range from 73 cents to 74 cents per share.
    * Revenue rose 5.7% to $312.27 million from a year ago;
analysts
expected $306.78 million. 
    * Conmed Corp's reported EPS for the quarter was 63 cents​.
    * The company reported quarterly net income of $19.71
million.
    * Conmed Corp shares had fallen by 11.0% this quarter and
lost 34.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 17.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the medical
equipment,
supplies & distribution peer group is also "buy"

Wall Street's median 12-month price target for Conmed Corp is
$105.00 
This summary was machine generated from LSEG data April 24 at
09:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.74           0.79           Beat
 Dec. 31 2023      1.11           1.06           Missed
 Sep. 30 2023      0.83           0.90           Beat
 Jun. 30 2023      0.79           0.83           Beat