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

Shares of CONMED Co. (NYSE:CNMD) have received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $79.80.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of CONMED by 17,519.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 88,099 shares of the company’s stock valued at $6,107,000 after acquiring an additional 87,599 shares during the period. Innealta Capital LLC acquired a new position in shares of CONMED in the second quarter valued at about $41,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of CONMED by 0.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 320,543 shares of the company’s stock worth $22,220,000 after purchasing an additional 2,549 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in CONMED by 50.9% in the second quarter. Commonwealth Equity Services LLC now owns 3,934 shares of the company’s stock valued at $273,000 after buying an additional 1,327 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in CONMED by 74.8% in the 2nd quarter. Natixis Advisors LLC now owns 81,189 shares of the company’s stock worth $5,628,000 after buying an additional 34,744 shares during the period.

CONMED Stock Performance

Shares of CNMD stock opened at $67.95 on Friday. The company’s 50 day moving average is $71.64 and its 200 day moving average is $69.95. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 16.14, a PEG 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.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The firm had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. On average, sell-side analysts anticipate that CONMED will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio is presently 19.00%.

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.