Brokerages Set CONMED Co. (NYSE:CNMD) Price Target at $79.80

CONMED Co. (NYSE:CNMD) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $79.80.

Several equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

CONMED Price Performance

Shares of CNMD opened at $68.73 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED has a 1 year low of $61.05 and a 1 year high of $97.08. The business has a 50-day moving average of $70.86 and a 200-day moving average of $70.08. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, equities research analysts anticipate that CONMED will post 4.03 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.16%. CONMED’s dividend payout ratio (DPR) is 19.00%.

Institutional Trading of CONMED

Several institutional investors have recently modified their holdings of CNMD. Epiq Partners LLC raised its stake in shares of CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after purchasing an additional 302 shares during the last quarter. Pacer Advisors Inc. raised its position in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares during the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 145 shares during the period. AMI Asset Management Corp boosted its holdings in shares of CONMED by 41.5% in the fourth quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock valued at $1,401,000 after acquiring an additional 6,008 shares in the last quarter. Finally, Avity Investment Management Inc. acquired a new position in shares of CONMED during the fourth quarter worth about $278,000.

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.