CONMED Co. (NYSE:CNMD) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $107.86.

Several research firms have weighed in on CNMD. Needham & Company LLC restated a "buy" rating and issued a $107.00 price objective on shares of CONMED in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of CONMED from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company lowered their price objective on shares of CONMED from $98.00 to $77.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. Finally, Piper Sandler lowered their price objective on shares of CONMED from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, April 25th.

Insider Buying and Selling

In other news, Director Martha Goldberg Aronson acquired 2,000 shares of CONMED stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $70.98 per share, with a total value of $141,960.00. Following the purchase, the director now directly owns 2,000 shares of the company's stock, valued at $141,960. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Pat Beyer purchased 3,000 shares of CONMED stock in a transaction dated Tuesday, April 30th. The stock was bought at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 10,807 shares of the company's stock, valued at $738,118.10. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martha Goldberg Aronson acquired 2,000 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $70.98 per share, with a total value of $141,960.00. Following the transaction, the director now directly owns 2,000 shares of the company's stock, valued at $141,960. The disclosure for this purchase can be found here. Insiders have bought 6,442 shares of company stock valued at $446,733 in the last 90 days. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On CONMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC raised its holdings in shares of CONMED by 36.1% in the first quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company's stock valued at $104,349,000 after purchasing an additional 345,735 shares during the last quarter. Clearbridge Investments LLC bought a new stake in CONMED during the 1st quarter worth about $27,343,000. Capital Research Global Investors boosted its stake 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 worth $301,931,000 after buying an additional 289,996 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of CONMED by 67.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 198,982 shares of the company's stock valued at $20,067,000 after acquiring an additional 80,036 shares in the last quarter. Finally, Sectoral Asset Management Inc. increased its position in shares of CONMED by 150.5% in the third quarter. Sectoral Asset Management Inc. now owns 114,000 shares of the company's stock valued at $11,497,000 after acquiring an additional 68,500 shares during the last quarter.

CONMED Price Performance

Shares of CONMED stock traded down $0.75 during mid-day trading on Friday, reaching $74.75. 416,198 shares of the stock were exchanged, compared to its average volume of 577,675. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a 50-day simple moving average of $74.89 and a 200 day simple moving average of $90.98. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $138.47.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $312.27 million during 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%. On average, sell-side analysts predict that CONMED will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED's dividend payout ratio (DPR) is presently 30.65%.

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.