CONMED Co. (NYSE:CNMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CONMED Co. (NYSE:CNMD) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $77.20.

Several analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC lowered their target price on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $70.00 in a report on Thursday, February 6th.

CONMED Trading Down 2.9 %

Shares of CNMD stock opened at $56.23 on Monday. The stock has a 50 day simple moving average of $62.73 and a 200 day simple moving average of $67.40. CONMED has a 1 year low of $54.97 and a 1 year high of $80.65. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.74 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, research analysts predict that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Hedge Funds Weigh In On CONMED

A number of hedge funds have recently added to or reduced their stakes in CNMD. Blue Trust Inc. raised its position in CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after buying an additional 145 shares during the last quarter. Beverly Hills Private Wealth LLC increased its position in CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock worth $257,000 after buying an additional 168 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock worth $221,000 after purchasing an additional 205 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after acquiring an additional 275 shares during the period. Finally, Epiq Partners LLC grew its stake in CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after acquiring an additional 302 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.