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

Shares of CONMED Co. (NYSE:CNMD) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $77.20.

CNMD has been the subject of several research analyst reports. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price objective on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC cut their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $70.00 in a report on Thursday, February 6th.

Institutional Trading of CONMED

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares during the period. Exchange Traded Concepts LLC raised its stake in CONMED by 3.7% during the third quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock worth $672,000 after buying an additional 333 shares during the last quarter. Creative Planning lifted its holdings in CONMED by 6.1% in the third quarter. Creative Planning now owns 7,574 shares of the company’s stock valued at $545,000 after buying an additional 438 shares during the period. nVerses Capital LLC boosted its position in CONMED by 566.7% during the third 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. Finally, Blue Trust Inc. grew its holdings in CONMED by 26.5% during the 3rd quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock worth $216,000 after acquiring an additional 653 shares during the period.

CONMED Stock Performance

NYSE CNMD opened at $61.33 on Friday. The firm’s 50 day simple moving average is $68.53 and its 200 day simple moving average is $69.77. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED has a 1 year low of $60.74 and a 1 year high of $86.96.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, research analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. CONMED’s dividend payout ratio (DPR) is 18.87%.

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.