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

CONMED Co. (NYSE:CNMD) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $79.80.

CNMD has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

CONMED Price Performance

Shares of NYSE:CNMD opened at $68.44 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The company’s 50-day moving average is $71.30 and its 200 day moving average is $70.00. 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 $113.68.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The firm had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. On average, equities research analysts forecast that CONMED will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. CONMED’s payout ratio is 19.00%.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of CONMED in the second quarter worth $41,000. CWM LLC increased its stake in CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after acquiring an additional 332 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of CONMED during the 2nd quarter valued at about $167,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of CONMED during the third quarter worth about $206,000.

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.