Analysts Set CONMED Co. (NYSE:CNMD) Price Target at $79.80

CONMED Co. (NYSE:CNMD) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $79.80.

Several research firms have commented on CNMD. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st.

CONMED Stock Down 1.0 %

CNMD opened at $68.44 on Friday. The business’s fifty day simple moving average is $71.30 and its 200 day simple moving average is $70.00. CONMED has a 52 week low of $61.05 and a 52 week high of $113.68. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The stock has a market cap of $2.11 billion, a PE ratio of 16.26, a P/E/G ratio of 0.94 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, research analysts expect that CONMED will post 4.03 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, December 20th. CONMED’s dividend payout ratio is 19.00%.

Institutional Investors Weigh In On CONMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in CONMED during the 2nd quarter valued at approximately $41,000. CWM LLC grew its position in shares of CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares during the last quarter. nVerses Capital LLC increased its stake in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after buying an additional 1,700 shares during the period. Federated Hermes Inc. bought a new position in shares of CONMED during the second quarter valued at approximately $167,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in CONMED in the third quarter worth $206,000.

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.