Welcome to our dedicated page for CONMED Corporation news (Ticker: CNMD), a resource for investors and traders seeking the latest updates and insights on CONMED Corporation stock.
CONMED Corporation (symbol: CNMD) is a global leader in medical technology, specializing in the development and sale of innovative surgical and patient monitoring products. Headquartered in Utica, New York, CONMED employs approximately 3,500 individuals who are dedicated to improving healthcare quality through high-quality product design, production, and marketing.
The company's core business encompasses a diverse range of specialties, including orthopaedics, general surgery, gynecology, gastroenterology, pulmonology, and anesthesiology. These products are known for their technological advancements, enabling physicians to deliver superior care and achieve enhanced clinical outcomes for their patients.
CONMED operates through two primary reporting units: Orthopedic Surgery and General Surgery. Geographically, the company is U.S.-centric, with the majority of its revenue generated domestically. The EMEA region contributes the second-largest revenue share, followed by APAC and the non-U.S. Americas.
The company's recent achievements include advancements in their surgical products and technology, which continue to set industry standards. Current projects are focused on enhancing product efficiency and expanding their global reach through strategic partnerships and innovations.
CONMED's mission centers around improving healthcare quality. Each employee is committed to customer satisfaction and enhanced patient outcomes, reflecting the company's core values. They strive to exhibit thoughtful leadership, provide meaningful opportunities for employees, and act as a responsible corporate citizen in the communities where they operate.
Recent news highlights include ongoing developments in their product lines and strategic initiatives to bolster market presence. With a strong financial foundation and continuous innovation, CONMED remains a pivotal player in the medical technology sector.
CONMED (NYSE: CNMD) has announced its participation in two upcoming investor conferences in November 2024. The company will participate in fireside chats at the Stifel Healthcare Conference in New York on November 19 at 8:35 a.m. ET, featuring President and CEO Curt R. Hartman and VP of U.S. Orthopedics Nate Miersma. The second presentation will be at the Jefferies London Healthcare Conference on November 20 at 11:00 a.m. GMT, featuring EVP and CFO Todd W. Garner and COO Pat J. Beyer. Both sessions will be available via webcast through CONMED's website investor section.
CONMED (NYSE: CNMD) announced its third-quarter 2024 financial results. Sales reached $316.7 million, marking a 4.0% year-over-year increase as reported and 4.3% in constant currency. Diluted net earnings per share (GAAP) were $1.57, compared to $0.50 in the third quarter of 2023. Adjusted diluted net earnings per share rose by 16.7% to $1.05. The company announced that COO Patrick Beyer will succeed Curt Hartman as President and CEO effective January 1, 2025. The updated full-year revenue guidance is now $1.300 billion to $1.305 billion, slightly down from the prior range of $1.305 billion to $1.315 billion. Full-year adjusted diluted net earnings per share are expected to be in the range of $4.00 to $4.05, up from the prior range of $3.95 to $4.02. Foreign currency impact is expected to be immaterial on both revenue and earnings per share for the full year.
CONMED (NYSE: CNMD) announced a leadership transition as CEO Curt R. Hartman will retire effective January 1, 2025. Current COO Patrick Beyer will succeed as President and CEO. During Hartman's 10-year tenure, CONMED nearly doubled revenues and more than doubled profitability through portfolio expansion and strategic acquisitions. Martha Goldberg Aronson will become Board Chair on October 31, 2024. Hartman will continue as a Director through December 2024 and remain as an advisor until March 2027. Beyer, who joined CONMED in 2014, has served in various leadership roles including President of International and Global Orthopedics, leading key acquisitions like In2Bones and BioRez.
CONMED (NYSE: CNMD) has released preliminary financial information for the third quarter of 2024. The company anticipates revenue between $315 million and $318 million, with adjusted diluted net earnings per share growth exceeding the previously guided 9% to 11%. CONMED will disclose full financial results on October 30, 2024, after market close, followed by a conference call at 4:30 p.m. ET.
The company emphasizes that this information is preliminary and subject to completion. While prepared in good faith and consistent with prior periods, actual results may differ materially as financial closing procedures for the period ended September 30, 2024, have not been completed. Investors are cautioned against relying heavily on this preliminary data.
CONMED (NYSE: CNMD) has announced its participation in a virtual fireside chat at the CL King 22nd Annual Best Ideas Conference. The event is scheduled for September 16, 2024, at 10:15 a.m. ET. Representing CONMED will be Curt R. Hartman, Chair of the Board, President, and CEO, along with Todd W. Garner, Executive Vice President and CFO.
Investors and interested parties can access a live video webcast of the fireside chat through the 'Investors' section of CONMED's official website at www.conmed.com. The webcast will also be available for replay after the event concludes, providing an opportunity for those unable to attend live to catch up on the discussion.
CONMED (NYSE: CNMD) has announced its participation in the Wells Fargo Healthcare Conference. Curt R. Hartman, Chair of the Board, President, and CEO, along with Todd W. Garner, Executive VP and CFO, will engage in a fireside chat on September 4, 2024, at 8:00 a.m. ET.
The event will be accessible via live webcast through the "Investors" section of CONMED's website at www.conmed.com. Interested parties can view the chat in real-time and access a replay after the event concludes. This participation provides an opportunity for investors and analysts to gain insights into CONMED's operations and strategies directly from its top executives.
CONMED (NYSE: CNMD) has announced a quarterly cash dividend of $0.20 per share. The dividend was declared by the Board of Directors on August 8, 2024, and will be payable on October 4, 2024. Shareholders of record as of September 16, 2024, will be eligible to receive the dividend. This announcement demonstrates CONMED's commitment to returning value to its shareholders through regular dividend payments.
CONMED (NYSE: CNMD) reported its Q2 2024 financial results, showing sales of $332.1 million, a 4.5% year-over-year increase (5.2% in constant currency). Domestic revenue rose 6.1%, while international revenue grew 2.6% (4.0% in constant currency). The company's diluted net earnings per share (GAAP) reached $0.96, up from $0.43 in Q2 2023. Adjusted diluted net earnings per share increased by 18.1% to $0.98.
However, CONMED revised its 2024 outlook due to ongoing supply chain challenges. The company now expects full-year revenue between $1.305 billion and $1.315 billion, down from the previous range of $1.330-$1.355 billion. The adjusted diluted net earnings per share forecast was lowered to $3.95-$4.02, from the prior range of $4.25-$4.35.
CONMED (NYSE: CNMD) is set to release its financial results for the second quarter of 2024 on July 31, 2024, after the market close. A conference call to discuss these results will be hosted by the company's management at 4:30 p.m. ET on the same day. Investors can participate in the conference call by pre-registering to obtain the dial-in number and passcode. The call will also be webcast live on the 'Investors' section of CONMED's website, with a replay available approximately one hour after the call ends.
CONMED (NYSE: CNMD) announced that Curt R. Hartman, Chair of the Board, President, and CEO, along with Todd W. Garner, Executive VP and CFO, will participate in a fireside chat at the Jefferies Global Healthcare Conference. The event is scheduled for 8:00 a.m. ET on June 6, 2024.
A live webcast will be accessible via the company's website and will be available for replay following the event.
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