CONMED Co. (NYSE:CNMD) Given Consensus Rating of “Hold” by Brokerages

Shares of CONMED Co. (NYSE:CNMD) have been given an average rating of “Hold” by the five analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $62.20.

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

CONMED Stock Down 1.6%

Shares of NYSE CNMD opened at $56.77 on Tuesday. The company’s 50-day simple moving average is $55.30 and its 200-day simple moving average is $63.29. CONMED has a 52-week low of $46.00 and a 52-week high of $78.58. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. 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 announced its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The business had revenue of $321.26 million for the quarter, compared to analyst estimates of $313.38 million. During the same quarter last year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts predict that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, June 13th. CONMED’s dividend payout ratio (DPR) is presently 21.05%.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at $930,741.24. The trade was 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 accessible through the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CONMED

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bridge City Capital LLC raised its stake in shares of CONMED by 20.8% in the 4th quarter. Bridge City Capital LLC now owns 44,056 shares of the company’s stock valued at $3,015,000 after acquiring an additional 7,597 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CONMED in the 4th quarter valued at approximately $18,248,000. Allspring Global Investments Holdings LLC raised its stake in shares of CONMED by 44.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after acquiring an additional 68,696 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of CONMED in the 4th quarter valued at approximately $909,000. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of CONMED in the 4th quarter valued at approximately $947,000.

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.