CONMED Co. (NYSE:CNMD) Given Average Rating of “Moderate Buy” by Brokerages

CONMED Co. (NYSE:CNMD) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $77.20.

A number of research analysts recently issued reports on CNMD shares. Needham & Company LLC cut their price target on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th.

CONMED Stock Performance

NYSE CNMD opened at $51.70 on Monday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.83 and a beta of 1.28. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED has a 1-year low of $50.36 and a 1-year high of $78.58. The company has a 50 day moving average of $60.28 and a 200-day moving average of $66.42.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, equities analysts forecast that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.55%. CONMED’s dividend payout ratio is currently 18.87%.

Institutional Trading of CONMED

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after purchasing an additional 145 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its stake in CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock valued at $257,000 after buying an additional 168 shares during the period. Summit Investment Advisors Inc. boosted its holdings in CONMED by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock worth $221,000 after buying an additional 205 shares during the last quarter. HighTower Advisors LLC grew its position in shares of CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares during the period. Finally, Epiq Partners LLC increased its stake in shares of CONMED by 2.2% in the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after acquiring an additional 302 shares during the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.