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

Shares of CONMED Co. (NYSE:CNMD) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $77.20.

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

CONMED Trading Down 2.8 %

NYSE CNMD opened at $58.92 on Thursday. CONMED has a 12 month low of $55.22 and a 12 month high of $81.22. The company has a 50-day moving average of $64.96 and a 200-day moving average of $68.65. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The company has a market cap of $1.82 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.83 and a beta of 1.53.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, equities analysts predict that CONMED will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, March 14th. CONMED’s dividend payout ratio (DPR) is 18.87%.

Institutional Trading of CONMED

Large investors have recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of CONMED by 31.5% during the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock valued at $5,141,000 after buying an additional 17,633 shares during the last quarter. Avity Investment Management Inc. purchased a new position in shares of CONMED during the 4th quarter valued at approximately $278,000. Intech Investment Management LLC boosted its stake in shares of CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after buying an additional 10,187 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in shares of CONMED during the 3rd quarter valued at approximately $1,665,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of CONMED by 44.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter.

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.