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

CONMED Co. (NYSE:CNMD) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $77.20.

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

CONMED Price Performance

Shares of CNMD opened at $61.46 on Thursday. The stock’s fifty day moving average is $65.32 and its 200-day moving average is $68.81. CONMED has a one year low of $55.22 and a one year high of $81.22. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

CONMED (NYSE:CNMD) last announced its 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 return on equity of 14.31% and a net margin of 10.13%. Equities analysts anticipate that CONMED will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. CONMED’s dividend payout ratio is presently 18.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC acquired a new position in shares of CONMED during the fourth quarter worth about $68,489,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of CONMED during the fourth quarter worth about $59,046,000. Neuberger Berman Group LLC acquired a new position in shares of CONMED during the fourth quarter worth about $21,395,000. Raymond James Financial Inc. acquired a new position in shares of CONMED during the fourth quarter worth about $18,248,000. Finally, Fisher Asset Management LLC boosted its position in shares of CONMED by 41.4% during the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock worth $28,569,000 after buying an additional 122,140 shares during the period.

About CONMED

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.