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

CONMED Co. (NYSE:CNMD) has earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $77.20.

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

CONMED Trading Down 4.5 %

Shares of CNMD opened at $59.12 on Thursday. The business’s 50-day moving average price is $65.82 and its 200 day moving average price is $69.10. The stock has a market capitalization of $1.83 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.53. CONMED has a 1-year low of $55.22 and a 1-year high of $86.96. 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 (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping 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%. Analysts expect that CONMED will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. CONMED’s payout ratio is 18.87%.

Institutional Trading of CONMED

A number of large investors have recently bought and sold shares of CNMD. GAMMA Investing LLC grew its holdings in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of CONMED during the fourth quarter worth about $82,000. Pacer Advisors Inc. raised its position in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares during the period. Smartleaf Asset Management LLC raised its position in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of CONMED during the fourth quarter worth about $210,000.

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.