Stifel Nicolaus Downgrades CONMED (NYSE:CNMD) to Hold

Stifel Nicolaus downgraded shares of CONMED (NYSE:CNMD) from a buy rating to a hold rating in a report published on Monday morning, MarketBeat.com reports. They currently have $55.00 target price on the stock, down from their prior target price of $75.00.

A number of other equities research analysts also recently issued reports on CNMD. Needham & Company LLC reduced their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.20.

CONMED Trading Up 0.5 %

Shares of CONMED stock opened at $50.94 on Monday. The business’s 50 day moving average is $56.75 and its 200-day moving average is $65.09. The stock has a market cap of $1.58 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.83 and a beta of 1.28. 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 has a 12-month low of $46.00 and a 12-month high of $78.58.

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

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 14th. CONMED’s payout ratio is presently 18.87%.

Institutional Investors Weigh In On CONMED

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the period. Aquatic Capital Management LLC bought a new stake in CONMED in the fourth quarter valued at $82,000. Pacer Advisors Inc. boosted its position in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in CONMED during the 4th quarter worth approximately $210,000.

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.