CONMED Co. (NYSE:CNMD) Receives Consensus Recommendation of “Hold” from Brokerages

CONMED Co. (NYSE:CNMD) has earned a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $62.20.

A number of equities analysts have commented on CNMD shares. Wall Street Zen cut CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut CONMED from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $55.00 in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their target price on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reduced their target price on CONMED from $91.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company reduced their target price on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st.

Insider Buying and Selling

In related news, Director Charles Farkas sold 4,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $56.94, for a total value of $227,760.00. Following the sale, the director now directly owns 16,346 shares of the company’s stock, valued at $930,741.24. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CONMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNMD. Silvercrest Asset Management Group LLC purchased a new stake in CONMED in the fourth quarter worth $68,489,000. Fuller & Thaler Asset Management Inc. bought a new stake in CONMED in the fourth quarter worth $59,046,000. Westwood Holdings Group Inc. boosted its holdings in CONMED by 41.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock worth $74,747,000 after acquiring an additional 360,336 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in CONMED in the fourth quarter worth $21,395,000. Finally, Raymond James Financial Inc. bought a new stake in CONMED in the fourth quarter worth $18,248,000.

CONMED Price Performance

Shares of CONMED stock opened at $55.38 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The business’s 50 day simple moving average is $55.49 and its two-hundred day simple moving average is $63.71. The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. CONMED has a one year low of $46.00 and a one year high of $78.58.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The business had revenue of $321.26 million for the quarter, compared to analysts’ expectations of $313.38 million. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Analysts forecast that CONMED will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 annualized dividend and a yield of 1.44%. CONMED’s payout ratio is 21.05%.

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.