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

Shares of CONMED Co. (NYSE:CNMD) have received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com 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 target price among brokers that have updated their coverage on the stock in the last year is $79.80.

A number of research firms have weighed in on CNMD. Piper Sandler reduced their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. StockNews.com raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company cut their price objective on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus decreased their target price on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 price target on shares of CONMED in a research note on Friday, October 4th.

Institutional Trading of CONMED

Several large investors have recently added to or reduced their stakes in CNMD. 1620 Investment Advisors Inc. acquired a new position in shares of CONMED during the 2nd quarter valued at about $39,000. Innealta Capital LLC acquired a new position in CONMED in the 2nd quarter valued at about $41,000. Hilltop National Bank grew its stake in shares of CONMED by 31.0% in the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares during the period. CWM LLC increased its holdings in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of CONMED by 70.6% during the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after buying an additional 745 shares during the period.

CONMED Price Performance

Shares of CONMED stock opened at $64.02 on Monday. The firm has a market cap of $1.97 billion, a PE ratio of 24.53, a P/E/G ratio of 0.82 and a beta of 1.46. CONMED has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $70.31 and a 200 day moving average price of $71.41.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The business had revenue of $332.10 million during the quarter, compared to analysts’ expectations of $334.39 million. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that CONMED will post 3.99 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, September 16th. CONMED’s dividend payout ratio (DPR) is currently 30.65%.

About CONMED

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.