CONMED Co. (NYSE:CNMD) Receives $79.80 Consensus Target Price from Analysts

CONMED Co. (NYSE:CNMD) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $79.80.

CNMD has been the subject of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently modified their holdings of CNMD. Earnest Partners LLC lifted its holdings in CONMED by 18.9% in the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after acquiring an additional 447,498 shares during the period. Champlain Investment Partners LLC lifted its holdings in CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after acquiring an additional 81,970 shares during the period. Geode Capital Management LLC lifted its holdings in CONMED by 1.2% in the third quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock valued at $49,879,000 after acquiring an additional 8,274 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in CONMED by 86.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock valued at $43,759,000 after acquiring an additional 293,099 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in CONMED by 4.2% in the third quarter. Principal Financial Group Inc. now owns 620,715 shares of the company’s stock valued at $44,631,000 after acquiring an additional 25,047 shares during the period.

CONMED Price Performance

CNMD stock opened at $70.93 on Wednesday. The company has a market capitalization of $2.19 billion, a P/E ratio of 16.85, a PEG ratio of 0.77 and a beta of 1.47. CONMED has a twelve month low of $61.05 and a twelve month high of $97.08. The business has a 50 day simple moving average of $70.85 and a 200-day simple moving average of $70.19. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01.

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

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s dividend payout ratio is presently 19.00%.

About CONMED

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.