News coverage about CONMED (NASDAQ:CNMD) has been trending somewhat positive on Tuesday, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. CONMED earned a news sentiment score of 0.10 on Accern’s scale. Accern also assigned media headlines about the medical technology company an impact score of 46.3318683425662 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
A number of research firms recently weighed in on CNMD. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Needham & Company LLC raised their price target on CONMED from $71.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Finally, ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. CONMED presently has a consensus rating of “Buy” and an average target price of $62.67.
CONMED opened at $74.40 on Tuesday, according to MarketBeat. The company has a quick ratio of 1.23, a current ratio of 2.15 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $2.09 billion, a PE ratio of 39.37, a PEG ratio of 2.98 and a beta of 0.60. CONMED has a 52 week low of $47.41 and a 52 week high of $74.58.
CONMED (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, April 25th. The medical technology company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.10. The firm had revenue of $202.10 million during the quarter, compared to analysts’ expectations of $196.51 million. CONMED had a net margin of 8.71% and a return on equity of 9.46%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. equities research analysts expect that CONMED will post 2.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Friday, June 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.08%. CONMED’s dividend payout ratio (DPR) is presently 42.33%.
In related news, VP Terence M. Berge sold 673 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $73.00, for a total transaction of $49,129.00. Following the completion of the transaction, the vice president now owns 19,908 shares in the company, valued at $1,453,284. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nathan Folkert sold 4,409 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $64.98, for a total transaction of $286,496.82. Following the transaction, the vice president now owns 1,264 shares of the company’s stock, valued at approximately $82,134.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,780 shares of company stock valued at $1,243,985. Corporate insiders own 3.13% of the company’s stock.
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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