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

Shares of CONMED Co. (NYSE:CNMD) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $120.43.

CNMD has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Needham & Company LLC boosted their price objective on shares of CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their target price on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, Wells Fargo & Company decreased their price objective on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st.

CONMED Trading Up 2.2 %

Shares of CNMD opened at $72.64 on Monday. The stock has a market cap of $2.24 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. CONMED has a 52-week low of $70.57 and a 52-week high of $138.47. The firm’s fifty day moving average is $79.63 and its two-hundred day moving average is $94.41. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). CONMED had a return on equity of 13.69% and a net margin of 5.18%. The company had revenue of $327.05 million during the quarter, compared to analyst estimates of $332.94 million. Research analysts forecast that CONMED will post 4.34 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s payout ratio is currently 39.22%.

Institutional Trading of CONMED

Hedge funds have recently modified their holdings of the stock. Belpointe Asset Management LLC raised its position in CONMED by 586.7% in the 1st quarter. Belpointe Asset Management LLC now owns 309 shares of the company’s stock valued at $32,000 after purchasing an additional 264 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of CONMED in the 4th quarter valued at about $40,000. Principal Securities Inc. acquired a new stake in shares of CONMED during the 4th quarter worth about $46,000. Headlands Technologies LLC purchased a new stake in CONMED during the third quarter worth approximately $64,000. Finally, Tower Research Capital LLC TRC boosted its holdings in CONMED by 712.8% in the first quarter. Tower Research Capital LLC TRC now owns 764 shares of the company’s stock valued at $79,000 after purchasing an additional 670 shares in 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.