Brokerages Set CONMED Co. (CNMD) Target Price at $80.67

Shares of CONMED Co. (NASDAQ:CNMD) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $80.67.

CNMD has been the subject of a number of research analyst reports. BidaskClub downgraded CONMED from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded CONMED from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Barclays set a $78.00 target price on CONMED and gave the stock an “equal weight” rating in a report on Tuesday, October 16th.

Shares of CONMED stock traded up $0.57 during midday trading on Friday, reaching $67.95. The company had a trading volume of 10,963 shares, compared to its average volume of 194,694. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.20 and a quick ratio of 1.27. The firm has a market cap of $1.85 billion, a P/E ratio of 35.96, a P/E/G ratio of 2.37 and a beta of 0.63. CONMED has a fifty-two week low of $55.23 and a fifty-two week high of $83.49.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Thursday, November 1st. The medical technology company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $202.30 million for the quarter, compared to analyst estimates of $198.51 million. CONMED had a return on equity of 9.51% and a net margin of 8.56%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities analysts anticipate that CONMED will post 2.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Friday, December 14th were issued a $0.20 dividend. The ex-dividend date was Thursday, December 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. CONMED’s payout ratio is currently 42.33%.

In other news, EVP Heather L. Cohen acquired 900 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $68.60 per share, for a total transaction of $61,740.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.13% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNMD. FMR LLC bought a new stake in shares of CONMED during the second quarter valued at approximately $20,992,000. BlackRock Inc. raised its position in CONMED by 7.3% in the 3rd quarter. BlackRock Inc. now owns 4,033,768 shares of the medical technology company’s stock valued at $319,555,000 after buying an additional 274,394 shares during the last quarter. Vanguard Group Inc raised its position in CONMED by 6.1% in the 3rd quarter. Vanguard Group Inc now owns 2,666,773 shares of the medical technology company’s stock valued at $211,262,000 after buying an additional 153,396 shares during the last quarter. Vanguard Group Inc. raised its position in CONMED by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,666,773 shares of the medical technology company’s stock valued at $211,262,000 after buying an additional 153,396 shares during the last quarter. Finally, Capital Research Global Investors raised its position in CONMED by 7.2% in the 3rd quarter. Capital Research Global Investors now owns 1,719,000 shares of the medical technology company’s stock valued at $136,179,000 after buying an additional 115,394 shares during the last quarter. Hedge funds and other institutional investors own 95.80% of the company’s stock.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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