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

CONMED Co. (NYSE:CNMD) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $79.80.

Several equities research analysts recently weighed in on CNMD shares. StockNews.com raised shares of CONMED from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Needham & Company LLC decreased their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler dropped their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target 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. Finally, Stifel Nicolaus lowered their price target on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

CONMED Stock Up 1.6 %

Shares of NYSE CNMD opened at $76.01 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. CONMED has a 1 year low of $61.05 and a 1 year high of $117.27. The stock’s 50-day simple moving average is $70.34 and its 200-day simple moving average is $72.74. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 0.95 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $332.10 million during the quarter, compared to analyst estimates of $334.39 million. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. As a group, equities analysts anticipate that CONMED will post 3.99 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, September 16th. CONMED’s dividend payout ratio (DPR) is currently 30.65%.

Institutional Trading of CONMED

Hedge funds have recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED during the 2nd quarter worth about $39,000. Innealta Capital LLC acquired a new position in shares of CONMED in the 2nd quarter worth approximately $41,000. Principal Securities Inc. bought a new stake in CONMED during the 4th quarter worth approximately $46,000. Hilltop National Bank increased its holdings in CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after purchasing an additional 195 shares in the last quarter. Finally, CWM LLC raised its position in CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after purchasing an additional 636 shares during the last quarter.

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.