CONMED Co. (NYSE:CNMD) Receives $77.20 Consensus Target Price from Analysts

CONMED Co. (NYSE:CNMD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $77.20.

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Wells Fargo & Company reduced their target price on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Finally, Needham & Company LLC dropped their price target on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, February 6th.

Institutional Investors Weigh In On CONMED

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in CONMED by 31.5% in the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock valued at $5,141,000 after purchasing an additional 17,633 shares during the last quarter. Avity Investment Management Inc. acquired a new position in shares of CONMED in the 4th quarter valued at $278,000. Intech Investment Management LLC grew its position in shares of CONMED by 177.6% in the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company's stock valued at $1,145,000 after buying an additional 10,187 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in CONMED during the 3rd quarter worth $1,665,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CONMED by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company's stock valued at $4,823,000 after acquiring an additional 1,095 shares during the last quarter.

CONMED Price Performance

NYSE CNMD traded up $0.28 during mid-day trading on Friday, hitting $63.09. The stock had a trading volume of 274,525 shares, compared to its average volume of 477,358. The firm's 50 day moving average is $68.96 and its 200 day moving average is $69.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.89 and a beta of 1.46. CONMED has a twelve month low of $61.05 and a twelve month high of $86.96.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. Equities research analysts forecast that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. CONMED's dividend payout ratio is currently 18.87%.

CONMED Company Profile

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.