Medical tech company CONMED (NYSE: CNMD) will be announcing earnings results this Wednesday after market close. Here’s what you need to know.
CONMED beat analysts’ revenue expectations by 1% last quarter, reporting revenues of $337.9 million, up 6.7% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ constant currency revenue estimates.
Is CONMED a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting CONMED’s revenue to grow 6.1% year on year to $367 million, in line with the 5.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.32 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CONMED has missed Wall Street’s revenue estimates three times over the last two years.
Looking at CONMED’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 2.8% year on year, beating analysts’ expectations by 7.2%, and Intuitive Surgical reported revenues up 18.8%, topping estimates by 1%. Neogen traded up 30.4% following the results while Intuitive Surgical’s stock price was unchanged.
Read our full analysis of Neogen’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.6% on average over the last month. CONMED is down 1.2% during the same time and is heading into earnings with an average analyst price target of $48.40 (compared to the current share price of $40.99).
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