CONMED Corporation (CNMD) Receives Consensus Recommendation of “Hold” from Analysts
Shares of CONMED Corporation (NASDAQ:CNMD) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $52.50.
Several research firms have issued reports on CNMD. BidaskClub cut shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Needham & Company LLC raised their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of CONMED Corporation in a research note on Friday, August 25th.
In related news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the sale, the director now directly owns 19,782 shares of the company’s stock, valued at $989,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.62% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in shares of CONMED Corporation by 3.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock worth $103,000 after acquiring an additional 64 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of CONMED Corporation in the first quarter worth approximately $106,000. SG Americas Securities LLC acquired a new stake in shares of CONMED Corporation in the second quarter worth approximately $111,000. Karp Capital Management Corp acquired a new stake in shares of CONMED Corporation in the first quarter worth approximately $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of CONMED Corporation in the first quarter worth approximately $203,000. 98.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of CONMED Corporation (CNMD) opened at 53.00 on Thursday. The stock’s 50 day moving average is $51.57 and its 200 day moving average is $50.14. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $54.47. The stock has a market capitalization of $1.48 billion, a PE ratio of 94.81 and a beta of 0.68.
CONMED Corporation (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. The firm had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. Analysts anticipate that CONMED Corporation will post $1.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. CONMED Corporation’s dividend payout ratio is currently 142.86%.
CONMED Corporation Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
Receive News & Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related companies with MarketBeat.com's FREE daily email newsletter.