CONMED Co. (NYSE:CNMD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th.

CONMED Stock Down 0.9 %

Shares of NYSE CNMD opened at $70.62 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. CONMED has a 52 week low of $61.05 and a 52 week high of $113.68. The firm has a 50-day moving average price of $71.09 and a 200 day moving average price of $70.10. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last posted its quarterly earnings results 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 company had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Equities research analysts anticipate that CONMED will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. CONMED’s dividend payout ratio (DPR) is 19.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of CONMED in the second quarter valued at approximately $41,000. CWM LLC grew its stake in CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after acquiring an additional 332 shares during the period. nVerses Capital LLC raised its holdings in CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of CONMED during the 2nd quarter worth $167,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of CONMED during the third quarter worth $206,000.

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.