CONMED (US:CNMD) ZACKSยท2024-07-31 23:01Core Viewpoint - Conmed (CNMD) reported quarterly earnings of $0.98 per share, exceeding the Zacks Consensus Estimate of $0.92 per share, and showing an increase from $0.83 per share a year ago, representing an earnings surprise of 6.52% [1] Financial Performance - The company posted revenues of $332.1 million for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 0.74%, compared to $317.65 million in the same quarter last year [2] - Over the last four quarters, Conmed has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Conmed shares have declined approximately 36.5% since the beginning of the year, contrasting with the S&P 500's gain of 14% [3] - The current Zacks Rank for Conmed is 4 (Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.17 on revenues of $335.32 million, and for the current fiscal year, it is $4.30 on revenues of $1.34 billion [7] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may change following the recent earnings report [6] Industry Context - The Medical - Dental Supplies industry, to which Conmed belongs, is currently ranked in the bottom 22% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - The performance of Conmed's stock may also be influenced by the overall outlook for the industry [8]