BidaskClub lowered shares of CONMED (NASDAQ:CNMD) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised CONMED from a hold rating to a buy rating and set a $79.00 price objective for the company in a report on Friday, January 25th. Needham & Company LLC reissued a buy rating and issued a $79.00 price objective (down previously from $86.00) on shares of CONMED in a report on Wednesday, January 23rd. Finally, Barclays lifted their price objective on CONMED from $85.00 to $92.00 and gave the stock an overweight rating in a report on Monday, April 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. CONMED presently has a consensus rating of Buy and a consensus target price of $91.00.

NASDAQ CNMD opened at $79.42 on Tuesday. The firm has a market cap of $2.24 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 2.97 and a beta of 0.67. CONMED has a one year low of $56.90 and a one year high of $84.38. The company has a current ratio of 2.33, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings data on Tuesday, January 22nd. The medical technology company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. CONMED had a return on equity of 9.65% and a net margin of 4.75%. The company had revenue of $242.40 million during the quarter, compared to analyst estimates of $228.40 million. During the same quarter last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that CONMED will post 2.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 36.70%.

In other CONMED news, EVP Peter K. Shagory sold 3,000 shares of CONMED stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $77.77, for a total transaction of $233,310.00. Following the completion of the transaction, the executive vice president now owns 4,649 shares of the company’s stock, valued at approximately $361,552.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kuyper sold 2,000 shares of CONMED stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.39, for a total value of $166,780.00. Following the transaction, the director now directly owns 13,906 shares of the company’s stock, valued at approximately $1,159,621.34. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock valued at $677,250. 3.13% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors Inc. grew its holdings in CONMED by 3.3% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,147 shares of the medical technology company’s stock valued at $395,000 after buying an additional 198 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in CONMED by 5.1% during the 1st quarter. Meeder Asset Management Inc. now owns 4,722 shares of the medical technology company’s stock valued at $392,000 after buying an additional 231 shares in the last quarter. Diversified Trust Co grew its holdings in CONMED by 6.5% during the 3rd quarter. Diversified Trust Co now owns 4,950 shares of the medical technology company’s stock valued at $392,000 after buying an additional 300 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in CONMED by 35.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock valued at $106,000 after buying an additional 454 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in CONMED during the 4th quarter valued at about $45,000. 96.69% of the stock is owned by institutional investors and hedge funds.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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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