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

Shares of CONMED Co. (NYSE:CNMD) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $77.20.

CNMD has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th.

Institutional Investors Weigh In On CONMED

A number of hedge funds and other institutional investors have recently modified their holdings of CNMD. Atria Investments Inc raised its stake in shares of CONMED by 28.9% during the third quarter. Atria Investments Inc now owns 14,216 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,189 shares in the last quarter. Versor Investments LP bought a new stake in CONMED in the third quarter worth about $626,000. Aigen Investment Management LP bought a new stake in CONMED in the third quarter worth about $452,000. Zions Bancorporation N.A. raised its position in CONMED by 19.0% in the third quarter. Zions Bancorporation N.A. now owns 12,279 shares of the company’s stock worth $883,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in CONMED by 36.6% in the third quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock worth $7,977,000 after acquiring an additional 29,720 shares in the last quarter.

CONMED Trading Down 4.5 %

NYSE CNMD opened at $59.12 on Thursday. The company has a 50-day moving average of $65.82 and a 200-day moving average of $69.10. The company has a market cap of $1.83 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.53. CONMED has a 12 month low of $55.22 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last issued its quarterly earnings data 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 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio (DPR) is 18.87%.

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.