ConMed Corp. Archives - Medical Design Sourcing

ConMed beats The Street in Q2, raises full-year guidance

ConMed (NSDQ:CNMD) shares ticked up before hours today on second-quarter results that beat the consensus forecast.

The Largo, Fla.-based company posted profits of $13.3 million, or 41¢ per share, on sales of $255.2 million for the three months ended June 30, 2021, massively improving its bottom line from losses of -$27.4 million this time a year ago on sales growth of 61.7%.

Adjusted to exclude one-time items, earnings per share were 71¢, 9¢ ahead of Wall Street, where analysts were looking for sales of $248.3 million.

“Our solid second-quarter results, driven by the strong commitment and exceptional performance of our global team, have positioned us well as we continue to navigate the COVID-19 environment and its impacts on our business,” ConMed chair of the board, president & CEO Curt R. Hartman said in a news release. “Our focus remains on new product innovation and strategically investing in our commercial and operations teams to better serve our…

Conmed grows 66% in Q1 results, raises full-year guidance

ConMed (NSDQ:CNMD) posted first-quarter results this week that beat the overall consensus on Wall Street and raised its guidance for the remainder of the fiscal year.

The Largo, Fla.-based company reported profits of $9.9 million, or 31¢ per share, on sales of $232.7 million for the three months ended March 31, for a bottom-line gain of 66.4% sales growth of 8.7% compared with Q1 2020.

Adjusted to exclude one-time items, earnings per share were 63¢, 19¢ ahead of The Street, where analysts were looking for sales of $216.9 million.

“I am very pleased by our first-quarter performance, which is a direct result of our team’s continued perseverance through a difficult operating environment,” president and CEO Curt Hartman said in a news release. “I believe that Conmed is well-positioned to capitalize on an improving surgical landscape over the course of this year, and I am confident in our team’s ability to provide innovative solutions that will benefit both o…

Conmed shares dip despite Street-beating Q4 results

ConMed (NSDQ:CNMD) yesterday posted fourth-quarter results that beat the consensus forecast on Wall Street.

The Largo, Fla.-based company reported profits of $24.1 million, or 81¢ per share, on sales of $252.8 million for the three months ended Dec. 31, 2020, for a bottom-line gain of 61.7% sales loss of -4.5% compared with Q4 2019.

Adjusted to exclude one-time items, earnings per share were 84¢, 25¢ ahead of The Street, where analysts were looking for sales of $235.6 million.

“I am very pleased with the agility and resilience that our team showed as it responded to a challenging fourth quarter operating environment, which reflected the ongoing impacts from COVID-19 on our customers’ surgical procedure volumes,” president and CEO Curt Hartman said in a news release. “While challenges remain as we enter 2021, we expect to see improvement in procedure volumes as vaccines become more readily available. I remain confident that Conmed enters 2021 better posit…

Ga. warehouse workers sue Sterigenics, ConMed over EtO exposure

Fifty-three people who worked in an Atlanta-area warehouse that stored medical devices sterilized by ethylene oxide (EtO) filed suit this week against Sterigenics and its parent company over exposure to the gas.

The plaintiffs or their families claim that long-term EtO exposure to the sterilized devices, which they unloaded, handled, warehoused and distributed, caused multiple deaths, cancer, tumors, respiratory, pulmonary, epidermal, hematological, cardiological, neurological and other serious medical conditions. The U.S. Environmental Protection Agency considers EtO a human carcinogen, and news of its use has sparked an outcry among residents and workers in neighborhoods surrounding EtO plants in Illinois, Michigan and Georgia.

Get the full story on our sister site, Medical Design & Outsourcing.