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

CONMED Co. (NYSE:CNMD) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat Ratings 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 price objective among brokers that have issued a report on the stock in the last year is $77.20.

CNMD has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price target 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 dropped their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th.

Institutional Trading of CONMED

Several institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CONMED by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company’s stock worth $4,823,000 after purchasing an additional 1,095 shares during the period. Captrust Financial Advisors raised its holdings in shares of CONMED by 22.9% in the 3rd quarter. Captrust Financial Advisors now owns 6,251 shares of the company’s stock worth $450,000 after buying an additional 1,164 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares during the period. Stifel Financial Corp boosted its stake in CONMED by 13.8% in the 3rd quarter. Stifel Financial Corp now owns 30,675 shares of the company’s stock valued at $2,206,000 after buying an additional 3,712 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in CONMED by 6.6% in the third quarter. Public Employees Retirement System of Ohio now owns 50,760 shares of the company’s stock valued at $3,651,000 after acquiring an additional 3,155 shares during the period.

CONMED Stock Performance

NYSE:CNMD opened at $51.70 on Monday. The firm has a market capitalization of $1.60 billion, a PE ratio of 12.19, a PEG ratio of 1.83 and a beta of 1.28. CONMED has a 1 year low of $50.36 and a 1 year high of $78.58. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $60.28 and its 200 day simple moving average is $66.42.

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 14.31% and a net margin of 10.13%. On average, sell-side analysts anticipate that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, March 14th. CONMED’s dividend payout ratio is 18.87%.

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.