Piper Jaffray Companies upgraded shares of CONMED (NASDAQ:CNMD) from a neutral rating to an overweight rating in a research note released on Thursday, BenzingaRatingsTable reports. The firm currently has $110.00 price objective on the medical technology company’s stock, up from their previous price objective of $88.00.

A number of other research firms have also recently weighed in on CNMD. Stifel Nicolaus increased their price target on CONMED from $97.00 to $99.00 and gave the company a buy rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded CONMED from a hold rating to a buy rating and set a $98.00 price target on the stock in a research note on Friday, August 2nd. Barclays increased their price target on CONMED from $96.00 to $105.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Finally, BidaskClub upgraded CONMED from a hold rating to a buy rating in a research note on Saturday, August 3rd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. CONMED has a consensus rating of Buy and an average target price of $97.83.

CNMD opened at $99.29 on Thursday. CONMED has a 1-year low of $56.90 and a 1-year high of $102.56. The stock’s fifty day simple moving average is $90.40 and its 200 day simple moving average is $82.70. The company has a current ratio of 2.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.14. The stock has a market cap of $2.86 billion, a PE ratio of 43.51, a price-to-earnings-growth ratio of 2.67 and a beta of 0.59.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. CONMED had a return on equity of 9.95% and a net margin of 3.13%. The business had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter in the prior year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts forecast that CONMED will post 2.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, September 12th. CONMED’s dividend payout ratio is 36.70%.

In other CONMED news, Director Dirk Kuyper sold 8,970 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $83.00, for a total value of $744,510.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $415,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter K. Shagory sold 2,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $95.31, for a total value of $190,620.00. Following the completion of the transaction, the executive vice president now directly owns 3,649 shares in the company, valued at $347,786.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,372 shares of company stock worth $2,920,843. Insiders own 4.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in CONMED by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,023 shares of the medical technology company’s stock valued at $834,000 after buying an additional 181 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in CONMED by 10.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,925 shares of the medical technology company’s stock valued at $160,000 after buying an additional 183 shares in the last quarter. Rothschild & Co. Asset Management US Inc. grew its holdings in CONMED by 0.4% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 54,767 shares of the medical technology company’s stock valued at $4,556,000 after buying an additional 206 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in CONMED by 3.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,276 shares of the medical technology company’s stock valued at $605,000 after buying an additional 270 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in CONMED by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 8,317 shares of the medical technology company’s stock valued at $692,000 after buying an additional 280 shares in the last quarter. 96.75% of the stock is currently owned by hedge funds and other institutional investors.

About CONMED

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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Analyst Recommendations for CONMED (NASDAQ:CNMD)

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