Brokerages Set CONMED Co. (NYSE:CNMD) Price Target at $79.80

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $79.80.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th.

Hedge Funds Weigh In On CONMED

Several hedge funds have recently made changes to their positions in CNMD. Principal Financial Group Inc. boosted its holdings in CONMED by 4.2% during the third quarter. Principal Financial Group Inc. now owns 620,715 shares of the company's stock worth $44,631,000 after purchasing an additional 25,047 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CONMED by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock worth $49,879,000 after buying an additional 8,274 shares during the last quarter. M&T Bank Corp grew its holdings in shares of CONMED by 18.3% in the 3rd quarter. M&T Bank Corp now owns 19,070 shares of the company's stock valued at $1,371,000 after acquiring an additional 2,956 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of CONMED by 6.6% in the third quarter. Public Employees Retirement System of Ohio now owns 50,760 shares of the company's stock valued at $3,651,000 after acquiring an additional 3,155 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of CONMED by 13.8% in the third quarter. Stifel Financial Corp now owns 30,675 shares of the company's stock valued at $2,206,000 after acquiring an additional 3,712 shares during the last quarter.

CONMED Trading Down 0.9 %

NYSE:CNMD traded down $0.61 during mid-day trading on Friday, hitting $70.62. The company had a trading volume of 252,821 shares, compared to its average volume of 478,744. The firm has a market cap of $2.18 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.94 and a beta of 1.46. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $113.68. The business's fifty day moving average is $71.09 and its two-hundred day moving average is $70.07. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The business had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, research analysts expect that CONMED will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. CONMED's dividend payout ratio (DPR) is 19.00%.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.