CONMED (NYSE:CNMD) Given New $91.00 Price Target at Needham & Company LLC

CONMED (NYSE:CNMD - Free Report) had its target price trimmed by Needham & Company LLC from $97.00 to $91.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on CNMD. JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $70.00 in a research note on Thursday. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, CONMED presently has an average rating of "Moderate Buy" and an average target price of $77.20.

CONMED Stock Up 1.5 %

Shares of NYSE:CNMD traded up $0.98 during trading on Thursday, hitting $67.41. The company's stock had a trading volume of 356,451 shares, compared to its average volume of 457,005. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $88.60. The business has a 50 day moving average price of $70.37 and a two-hundred day moving average price of $70.13. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company has a market capitalization of $2.08 billion, a PE ratio of 15.90, a P/E/G ratio of 1.05 and a beta of 1.46.

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

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, December 20th. CONMED's dividend payout ratio (DPR) is 18.87%.

Institutional Investors Weigh In On CONMED

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in CONMED by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,171 shares of the company's stock valued at $1,190,000 after acquiring an additional 1,154 shares during the last quarter. Creative Planning increased its holdings in shares of CONMED by 83.6% in the second quarter. Creative Planning now owns 7,136 shares of the company's stock valued at $495,000 after purchasing an additional 3,250 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of CONMED during the second quarter worth approximately $913,000. SG Americas Securities LLC lifted its holdings in shares of CONMED by 117.6% during the third quarter. SG Americas Securities LLC now owns 10,924 shares of the company's stock worth $786,000 after purchasing an additional 5,903 shares during the period. Finally, Diversified Trust Co grew its position in CONMED by 18.0% in the 3rd quarter. Diversified Trust Co now owns 13,275 shares of the company's stock valued at $955,000 after buying an additional 2,025 shares during the last quarter.

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.