CONMED Co. (NYSE:CNMD) Receives $77.20 Average Target Price from Analysts

Shares of CONMED Co. (NYSE:CNMD) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $77.20.

A number of equities analysts recently issued reports on the company. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th.

CONMED Stock Performance

Shares of CNMD opened at $60.99 on Friday. The stock has a 50 day moving average price of $68.30 and a 200 day moving average price of $69.77. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. CONMED has a 52-week low of $59.50 and a 52-week high of $86.96.

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

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

Institutional Investors Weigh In On CONMED

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after acquiring an additional 145 shares in the last quarter. Beverly Hills Private Wealth LLC grew its holdings in CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock valued at $257,000 after purchasing an additional 168 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock valued at $221,000 after purchasing an additional 205 shares during the last quarter. HighTower Advisors LLC grew its holdings in CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after purchasing an additional 275 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in CONMED by 5.0% in the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock valued at $419,000 after purchasing an additional 280 shares during the last quarter.

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.