CONMED Co. (NYSE:CNMD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of CONMED Co. (NYSE:CNMDGet Free Report) have earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $102.50.

CNMD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company dropped their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Piper Sandler dropped their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $107.00 price target on shares of CONMED in a research note on Monday, May 6th.

Read Our Latest Research Report on CONMED

Insider Buying and Selling

In related news, insider Stanley W. Peters III sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.82, for a total transaction of $287,280.00. Following the sale, the insider now owns 63 shares of the company’s stock, valued at approximately $4,524.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Martha Goldberg Aronson purchased 2,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $70.98 per share, with a total value of $141,960.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $141,960. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stanley W. Peters III sold 4,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.82, for a total transaction of $287,280.00. Following the completion of the transaction, the insider now directly owns 63 shares in the company, valued at approximately $4,524.66. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 6,442 shares of company stock valued at $446,733. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CONMED

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of CONMED by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock valued at $78,010,000 after purchasing an additional 33,794 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID grew its holdings in shares of CONMED by 29.0% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock valued at $19,884,000 after purchasing an additional 55,878 shares during the last quarter. Intrinsic Edge Capital Management LLC grew its holdings in shares of CONMED by 672.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 77,248 shares of the company’s stock valued at $8,459,000 after purchasing an additional 67,248 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of CONMED by 11.8% during the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after purchasing an additional 289,996 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of CONMED by 8.7% during the 4th quarter. Congress Asset Management Co. MA now owns 302,467 shares of the company’s stock valued at $33,123,000 after purchasing an additional 24,280 shares during the last quarter.

CONMED Stock Up 1.8 %

CNMD opened at $65.23 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 0.63 and a beta of 1.42. CONMED has a twelve month low of $61.05 and a twelve month high of $137.86. The company’s 50-day moving average price is $71.54 and its two-hundred day moving average price is $81.47.

CONMED (NYSE:CNMDGet Free Report) last released its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.78%. As a group, equities analysts expect that CONMED will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, June 14th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

CONMED Company Profile

(Get Free Report

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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Analyst Recommendations for CONMED (NYSE:CNMD)

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