BidaskClub lowered shares of CONMED (NASDAQ:CNMD) from a hold rating to a sell rating in a report published on Tuesday morning.

Other equities analysts also recently issued research reports about the company. KeyCorp reiterated a hold rating on shares of CONMED in a report on Friday, August 25th. Needham & Company LLC reiterated a buy rating and set a $58.00 price target on shares of CONMED in a report on Friday, November 17th. Piper Jaffray Companies reiterated a hold rating and set a $46.00 price target on shares of CONMED in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded CONMED from a sell rating to a hold rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. CONMED has a consensus rating of Hold and an average target price of $50.67.

CONMED (NASDAQ CNMD) opened at $50.39 on Tuesday. CONMED has a twelve month low of $39.74 and a twelve month high of $54.77. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1,419.04, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.26 and a beta of 0.66.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The company had revenue of $190.10 million for the quarter, compared to the consensus estimate of $187.13 million. During the same quarter last year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts forecast that CONMED will post 1.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.59%. CONMED’s dividend payout ratio is 142.86%.

In other news, EVP Luke A. Pomilio sold 10,020 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the sale, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at $2,382,365.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total value of $1,488,704.10. Following the completion of the sale, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at $2,306,140.20. The disclosure for this sale can be found here. Insiders sold 51,812 shares of company stock valued at $2,654,756 over the last three months. 2.62% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in shares of CONMED in the second quarter valued at approximately $273,000. Swiss National Bank lifted its position in CONMED by 6.1% in the second quarter. Swiss National Bank now owns 41,700 shares of the medical technology company’s stock worth $2,124,000 after purchasing an additional 2,400 shares during the period. Macquarie Group Ltd. lifted its position in CONMED by 13.9% in the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock worth $38,406,000 after purchasing an additional 89,078 shares during the period. Virginia Retirement Systems ET AL lifted its position in CONMED by 10.8% in the second quarter. Virginia Retirement Systems ET AL now owns 27,800 shares of the medical technology company’s stock worth $1,416,000 after purchasing an additional 2,700 shares during the period. Finally, Prudential Financial Inc. lifted its position in CONMED by 65.8% in the third quarter. Prudential Financial Inc. now owns 118,365 shares of the medical technology company’s stock worth $6,211,000 after purchasing an additional 46,956 shares during the period. 99.04% of the stock is owned by institutional investors.

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About CONMED

CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

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