CONMED Co. (NYSE:CNMD) Given Average Recommendation of “Hold” by Analysts

CONMED Co. (NYSE:CNMD) has earned a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $62.20.

CNMD has been the subject of a number of research analyst reports. Stifel Nicolaus cut CONMED from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $55.00 in a report on Monday. Needham & Company LLC dropped their target price on shares of CONMED from $91.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNMD. GAMMA Investing LLC grew its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares during the period. Aquatic Capital Management LLC acquired a new position in CONMED during the fourth quarter valued at approximately $82,000. Pacer Advisors Inc. increased its stake in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after purchasing an additional 485 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of CONMED during the fourth quarter worth $210,000.

CONMED Trading Up 16.7 %

Shares of CONMED stock opened at $57.33 on Friday. CONMED has a 12-month low of $46.00 and a 12-month high of $78.58. The stock has a market capitalization of $1.77 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The company has a 50-day simple moving average of $56.21 and a 200 day simple moving average of $64.83. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. The company had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. Research analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, March 14th. 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.