Shares of CONMED Corporation (NASDAQ:CNMD) have been given an average recommendation of “Hold” by the seven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.67.

Several research firms have commented on CNMD. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of CONMED in a research note on Friday, November 17th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. KeyCorp reaffirmed a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 price objective on shares of CONMED in a research note on Friday, November 3rd. Finally, BidaskClub downgraded CONMED from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 20th.

In other news, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the completion of the transaction, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at approximately $2,306,140.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Luke A. Pomilio sold 12,429 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $50.63, for a total value of $629,280.27. Following the transaction, the chief financial officer now directly owns 45,486 shares of the company’s stock, valued at $2,302,956.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,812 shares of company stock valued at $2,654,756. Company insiders own 2.62% of the company’s stock.

Several hedge funds have recently modified their holdings of CNMD. Teachers Advisors LLC raised its stake in shares of CONMED by 3.8% during the 1st quarter. Teachers Advisors LLC now owns 46,825 shares of the medical technology company’s stock worth $2,079,000 after buying an additional 1,702 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of CONMED during the 1st quarter worth approximately $1,887,000. Aperio Group LLC raised its stake in shares of CONMED by 10.7% during the 2nd quarter. Aperio Group LLC now owns 5,034 shares of the medical technology company’s stock worth $256,000 after buying an additional 487 shares in the last quarter. Strs Ohio purchased a new position in shares of CONMED during the 2nd quarter worth approximately $967,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of CONMED by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock worth $298,000 after buying an additional 220 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Shares of CONMED (NASDAQ CNMD) opened at $52.26 on Friday. The stock has a market capitalization of $1,447.81, a PE ratio of 29.62, a P/E/G ratio of 3.28 and a beta of 0.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.56 and a quick ratio of 1.49. CONMED has a 1 year low of $39.74 and a 1 year high of $54.77.

CONMED (NASDAQ:CNMD) last announced its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $187.13 million. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. research analysts anticipate that CONMED will post 1.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 14th. CONMED’s dividend payout ratio is presently 142.86%.

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CONMED 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.

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