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

CONMED Co. (NYSE:CNMD) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $77.20.

A number of equities analysts recently commented on CNMD shares. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus upped their target price on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC lowered their price target 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. Finally, StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

Institutional Investors Weigh In On CONMED

Large investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after acquiring an additional 332 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in CONMED by 3.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock valued at $672,000 after buying an additional 333 shares during the last quarter. Creative Planning boosted its stake in shares of CONMED by 6.1% in the 3rd quarter. Creative Planning now owns 7,574 shares of the company’s stock worth $545,000 after buying an additional 438 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the period. Finally, Blue Trust Inc. increased its position in CONMED by 26.5% during the third quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock valued at $216,000 after acquiring an additional 653 shares during the last quarter.

CONMED Stock Performance

Shares of CNMD stock opened at $63.05 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $86.96. The company has a market capitalization of $1.95 billion, a P/E ratio of 14.87, a PEG ratio of 1.05 and a beta of 1.46. The stock has a 50 day moving average price of $69.43 and a two-hundred day moving average price of $69.93.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share 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 14.60%. Analysts expect 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 was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is currently 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.