Shares of CONMED Co. (NASDAQ:CNMD) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $55.00.
Several brokerages have recently issued reports on CNMD. Zacks Investment Research downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC boosted their price objective on CONMED from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. ValuEngine upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, BidaskClub upgraded CONMED from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd.
Shares of NASDAQ CNMD traded up $0.45 during midday trading on Thursday, hitting $63.24. 140,069 shares of the company’s stock were exchanged, compared to its average volume of 175,403. The company has a current ratio of 2.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.75. The company has a market cap of $1,735.80, a PE ratio of 33.60, a P/E/G ratio of 2.51 and a beta of 0.58. CONMED has a twelve month low of $43.88 and a twelve month high of $64.99.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The business had revenue of $222.60 million during the quarter, compared to the consensus estimate of $212.17 million. CONMED had a return on equity of 8.96% and a net margin of 6.97%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. sell-side analysts forecast that CONMED will post 2.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.27%. CONMED’s payout ratio is 42.33%.
In related news, Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $63.90, for a total transaction of $191,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luke A. Pomilio sold 19,620 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $60.19, for a total value of $1,180,927.80. Following the sale, the chief financial officer now directly owns 600 shares in the company, valued at approximately $36,114. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,473 shares of company stock worth $2,874,693. 2.62% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CNMD. Millennium Management LLC bought a new stake in CONMED during the fourth quarter worth approximately $5,757,000. BlackRock Inc. increased its holdings in shares of CONMED by 2.7% in the fourth quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock valued at $167,275,000 after buying an additional 85,022 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of CONMED in the fourth quarter valued at $3,169,000. Goldman Sachs Group Inc. increased its holdings in shares of CONMED by 6.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,067,319 shares of the medical technology company’s stock valued at $54,401,000 after buying an additional 61,617 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of CONMED in the fourth quarter valued at $2,676,000. 99.60% of the stock is currently owned by hedge funds and other institutional investors.
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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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