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

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

Several brokerages recently issued reports on CNMD. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Thursday, October 31st.

CONMED Stock Up 5.0 %

Shares of CONMED stock opened at $71.04 on Wednesday. CONMED has a 1-year low of $61.05 and a 1-year high of $103.81. The company has a market capitalization of $2.19 billion, a P/E ratio of 16.87, a PEG ratio of 0.73 and a beta of 1.47. The business’s fifty day moving average price is $71.08 and its two-hundred day moving average price is $70.06. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, research analysts forecast that CONMED will post 4.03 EPS for the current year.

CONMED Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.13%. CONMED’s dividend payout ratio is currently 19.00%.

Institutional Investors Weigh In On CONMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AMI Asset Management Corp increased its holdings in shares of CONMED by 41.5% during the 4th quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock worth $1,401,000 after acquiring an additional 6,008 shares during the last quarter. Avity Investment Management Inc. acquired a new position in shares of CONMED in the fourth quarter valued at $278,000. Tealwood Asset Management Inc. bought a new position in shares of CONMED in the fourth quarter valued at about $1,142,000. Nordea Investment Management AB lifted 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 worth $5,141,000 after buying an additional 17,633 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after buying an additional 351 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.