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

CONMED Co. (NYSE:CNMD) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $79.80.

Several equities analysts have recently issued reports on CNMD shares. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st.

CONMED Trading Up 0.3 %

Shares of NYSE CNMD opened at $68.73 on Wednesday. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $97.08. The firm has a market capitalization of $2.12 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.77 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The company’s 50 day simple moving average is $70.86 and its 200 day simple moving average is $70.15.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The company had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. On average, analysts predict that CONMED will post 4.03 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. CONMED’s payout ratio is 19.00%.

Hedge Funds Weigh In On CONMED

A number of large investors have recently added to or reduced their stakes in CNMD. Epiq Partners LLC boosted its holdings in CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after purchasing an additional 302 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after buying an additional 485 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after buying an additional 145 shares in the last quarter. AMI Asset Management Corp increased its holdings in CONMED by 41.5% during the fourth quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock worth $1,401,000 after buying an additional 6,008 shares during the last quarter. Finally, Avity Investment Management Inc. bought a new stake in CONMED during the fourth quarter worth $278,000.

CONMED Company Profile

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.