CONMED Co. (NYSE:CNMD) Receives $79.80 Average PT from Analysts

Shares of CONMED Co. (NYSE:CNMD) have earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $79.80.

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

CONMED Stock Up 0.9 %

Shares of NYSE:CNMD opened at $67.95 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.46. CONMED has a 12 month low of $61.05 and a 12 month high of $113.68. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $71.64 and a 200 day moving average price of $69.95.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, equities research analysts predict that CONMED will post 4.03 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s payout ratio is presently 19.00%.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNMD. Innealta Capital LLC bought a new stake in shares of CONMED during the second quarter valued at approximately $41,000. GAMMA Investing LLC increased its holdings in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares during the period. CWM LLC raised its position in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after purchasing an additional 332 shares in the last quarter. nVerses Capital LLC grew its position in shares of CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after buying an additional 1,700 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of CONMED during the second quarter valued at $167,000.

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.