CONMED Co. (NYSE:CNMD) Given Consensus Rating of "Hold" by Analysts

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have been assigned an average recommendation of "Hold" from the five analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $62.20.

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and cut their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Needham & Company LLC cut their price objective on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a report on Tuesday.

CONMED Price Performance

Shares of CONMED stock traded up $0.12 during trading on Friday, reaching $56.03. 379,794 shares of the stock traded hands, compared to its average volume of 453,231. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.83 and a beta of 1.19. CONMED has a 52-week low of $46.00 and a 52-week high of $78.58. The business has a fifty day simple moving average of $55.89 and a two-hundred day simple moving average of $64.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. Sell-side analysts expect that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director now directly owns 16,346 shares in the company, valued at $930,741.24. This represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of CONMED in the 1st quarter valued at about $33,000. GAMMA Investing LLC raised its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after buying an additional 351 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of CONMED in the 4th quarter worth $82,000. Pacer Advisors Inc. boosted its position in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after purchasing an additional 485 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after buying an additional 322 shares during the last quarter.

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.