CONMED (NYSE:CNMD) Now Covered by Analysts at CL King

CL King initiated coverage on shares of CONMED (NYSE:CNMD – Get Rating) in a research report report published on Monday, The Fly reports. The firm issued a buy rating and a $140.00 target price on the stock.

Several other analysts also recently issued reports on CNMD. Wells Fargo & Company upped their price objective on shares of CONMED from $96.00 to $119.00 in a report on Thursday, April 27th. Needham & Company LLC boosted their price objective on CONMED from $122.00 to $135.00 in a research note on Thursday, April 27th. Stifel Nicolaus upped their price objective on CONMED from $118.00 to $130.00 in a report on Thursday, April 27th. StockNews.com raised shares of CONMED from a sell rating to a hold rating in a research report on Thursday, April 27th. Finally, Piper Sandler upped their price objective on CONMED from $118.00 to $128.00 in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, CONMED has a consensus rating of Moderate Buy and a consensus price target of $130.40.

CONMED Trading Up 1.3 %

Shares of CNMD stock opened at $120.50 on Monday. The stock has a market capitalization of $3.68 billion, a P/E ratio of -37.08, a P/E/G ratio of 1.94 and a beta of 1.38. The company has a quick ratio of 0.84, a current ratio of 1.96 and a debt-to-equity ratio of 1.32. The stock has a 50-day simple moving average of $113.11 and a 200 day simple moving average of $102.38. CONMED has a fifty-two week low of $71.09 and a fifty-two week high of $129.65.

CONMED (NYSE:CNMD – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. The firm had revenue of $295.47 million during the quarter, compared to analyst estimates of $266.66 million. CONMED had a negative net margin of 7.71% and a positive return on equity of 11.39%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. On average, sell-side analysts expect that CONMED will post 3.31 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.66%. CONMED’s dividend payout ratio (DPR) is -24.62%.

Insider Buying and Selling at CONMED

In other news, CFO Todd W. Garner sold 30,000 shares of CONMED stock in a transaction on Monday, March 13th. The stock was sold at an average price of $90.93, for a total transaction of $2,727,900.00. Following the sale, the chief financial officer now directly owns 1,115 shares in the company, valued at approximately $101,386.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brian Concannon sold 2,072 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $125.00, for a total transaction of $259,000.00. Following the completion of the sale, the director now directly owns 9,812 shares in the company, valued at approximately $1,226,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd W. Garner sold 30,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $90.93, for a total value of $2,727,900.00. Following the completion of the transaction, the chief financial officer now directly owns 1,115 shares of the company’s stock, valued at approximately $101,386.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,531 shares of company stock valued at $7,595,744. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of CONMED

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in CONMED by 3.8% in the third quarter. BlackRock Inc. now owns 4,806,572 shares of the company’s stock worth $385,342,000 after buying an additional 176,701 shares during the last quarter. Vanguard Group Inc. grew its position in CONMED by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,338,586 shares of the company’s stock worth $267,654,000 after purchasing an additional 127,857 shares during the period. Earnest Partners LLC grew its position in CONMED by 16.3% during the fourth quarter. Earnest Partners LLC now owns 2,402,352 shares of the company’s stock valued at $212,944,000 after buying an additional 335,974 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of CONMED by 8.0% in the first quarter. Ameriprise Financial Inc. now owns 1,350,863 shares of the company’s stock worth $140,302,000 after acquiring an additional 99,568 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of CONMED by 3.0% during the 1st quarter. State Street Corp now owns 1,165,135 shares of the company’s stock worth $121,247,000 after purchasing an additional 33,781 shares during the last quarter.

About CONMED

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CONMED Corp. operates as a medical technology company, which engages in the development, manufacturing, and sale of surgical devices and related equipment. It operates through the United States, Europe, Middle East, and Africa, and Asia Pacific geographical segments. Its products are used by surgeons and physicians in a variety of medical specialties, including orthopedic surgery, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.