CONMED Corporation (CNMD) Given Hold Rating at KeyCorp
CONMED Corporation (NASDAQ:CNMD)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a research report issued to clients and investors on Friday. KeyCorp also issued estimates for CONMED Corporation’s FY2017 earnings at $1.86 EPS, FY2018 earnings at $2.06 EPS and FY2019 earnings at $2.32 EPS.
A number of other equities analysts have also commented on the company. Needham & Company LLC lifted their price objective on CONMED Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $46.00 price objective on shares of CONMED Corporation in a research note on Friday. BidaskClub raised CONMED Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. TheStreet raised CONMED Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. CONMED Corporation presently has a consensus rating of “Hold” and a consensus target price of $50.33.
Shares of CONMED Corporation (CNMD) traded up $0.16 during mid-day trading on Friday, hitting $53.37. The stock had a trading volume of 118,854 shares, compared to its average volume of 88,131. The company has a quick ratio of 1.57, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. CONMED Corporation has a 12-month low of $39.09 and a 12-month high of $54.47. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 3.35 and a beta of 0.66.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. CONMED Corporation had a return on equity of 8.43% and a net margin of 1.99%. The firm had revenue of $190.10 million for the quarter, compared to analyst estimates of $187.13 million. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts forecast that CONMED Corporation will post 1.87 EPS for the current year.
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In related news, Director Jo Ann Golden sold 3,000 shares of CONMED Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 19,782 shares of the company’s stock, valued at $989,100. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.62% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of CNMD. BlackRock Inc. increased its holdings in CONMED Corporation by 46,036.5% in the first quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock worth $140,043,000 after purchasing an additional 3,146,592 shares in the last quarter. AHL Partners LLP increased its holdings in CONMED Corporation by 2,792.2% in the second quarter. AHL Partners LLP now owns 158,090 shares of the medical technology company’s stock worth $8,053,000 after purchasing an additional 152,624 shares in the last quarter. Heartland Advisors Inc. increased its holdings in CONMED Corporation by 315.7% in the second quarter. Heartland Advisors Inc. now owns 165,992 shares of the medical technology company’s stock worth $8,456,000 after purchasing an additional 126,062 shares in the last quarter. Victory Capital Management Inc. increased its holdings in CONMED Corporation by 5.4% in the third quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock worth $114,415,000 after purchasing an additional 111,096 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in CONMED Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 2,268,882 shares of the medical technology company’s stock worth $100,761,000 after purchasing an additional 84,785 shares in the last quarter. Institutional investors and hedge funds own 98.36% of the company’s stock.
About CONMED Corporation
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.
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