CONMED Sees Large Decline in Short Interest (CNMD)
Shares of CONMED (NASDAQ:CNMD) were the recipient of a significant decrease in short interest in the month of May. As of May 30th, there was short interest totalling 578,192 shares, a decrease of 24.5% from the May 15th total of 765,400 shares, Analyst Ratings Network reports. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 341,811 shares, the days-to-cover ratio is currently 1.7 days.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of CONMED in a research note on Friday, April 25th. They now have a $47.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.67.
Shares of CONMED (NASDAQ:CNMD) opened at 43.55 on Friday. CONMED has a 52 week low of $29.95 and a 52 week high of $50.47. The stock has a 50-day moving average of $45.96 and a 200-day moving average of $44.36. The company has a market cap of $1.185 billion and a P/E ratio of 35.90.
CONMED (NASDAQ:CNMD) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $191.95 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that CONMED will post $1.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 7th. Stockholders of record on Monday, June 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, June 12th.
CONMED Corporation (NASDAQ:CNMD) is a medical technology company/ The Company emphasizes on surgical devices and equipment for minimally invasive procedures and monitoring.
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