Shares of CONMED Co. (NASDAQ:CNMD) have received a consensus recommendation of "Buy" from the nine research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $88.33.
A number of research analysts have commented on CNMD shares. Stifel Nicolaus increased their price objective on shares of CONMED from $82.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. SVB Leerink increased their price objective on shares of CONMED from $82.00 to $92.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. BidaskClub upgraded shares of CONMED from a "sell" rating to a "hold" rating in a research note on Wednesday, October 7th. Finally, Piper Sandler increased their price objective on shares of CONMED from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th.
In related news, EVP Peter K. Shagory sold 4,200 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $85.88, for a total value of $360,696.00. Following the sale, the executive vice president now owns 6,061 shares of the company's stock, valued at approximately $520,518.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel Jonas sold 4,349 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $82.66, for a total transaction of $359,488.34. Following the completion of the sale, the executive vice president now directly owns 13,280 shares in the company, valued at approximately $1,097,724.80. The disclosure for this sale can be found here. Insiders have sold 11,585 shares of company stock worth $991,330 over the last three months. 4.38% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC acquired a new stake in shares of CONMED in the 1st quarter worth about $44,000. Mutual of America Capital Management LLC increased its holdings in shares of CONMED by 44.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 943 shares of the medical technology company's stock worth $68,000 after acquiring an additional 292 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of CONMED in the 1st quarter worth about $60,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of CONMED in the 1st quarter worth about $150,000. Finally, US Bancorp DE increased its holdings in shares of CONMED by 49.1% in the 1st quarter. US Bancorp DE now owns 2,072 shares of the medical technology company's stock worth $119,000 after acquiring an additional 682 shares during the period.
Shares of CNMD stock opened at $82.53 on Friday. The company has a market capitalization of $2.36 billion, a PE ratio of 86.87, a price-to-earnings-growth ratio of 2.18 and a beta of 0.56. The firm has a fifty day simple moving average of $82.65 and a 200-day simple moving average of $75.81. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 1.11. CONMED has a twelve month low of $37.66 and a twelve month high of $116.81.
CONMED (NASDAQ:CNMD) last announced its earnings results on Wednesday, July 29th. The medical technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.88. CONMED had a net margin of 3.00% and a return on equity of 11.18%. The business had revenue of $157.80 million during the quarter, compared to the consensus estimate of $126.59 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business's quarterly revenue was down 33.8% compared to the same quarter last year. Equities research analysts predict that CONMED will post 3.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. CONMED's dividend payout ratio (DPR) is 30.30%.
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, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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