CONMED Co. (NYSE:CNMD) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $102.50.

CNMD has been the topic of several analyst reports. Needham & Company LLC restated a "buy" rating and issued a $107.00 target price on shares of CONMED in a research report on Monday, May 6th. Piper Sandler lowered their target price on CONMED from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on CONMED from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, April 25th. Finally, Wells Fargo & Company lowered their target price on CONMED from $98.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 25th.

Insider Buying and Selling at CONMED

In related news, COO Pat Beyer acquired 3,000 shares of CONMED stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average cost of $68.30 per share, with a total value of $204,900.00. Following the purchase, the chief operating officer now directly owns 10,807 shares in the company, valued at approximately $738,118.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Barbara J. Schwarzentraub acquired 1,442 shares of CONMED stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $69.26 per share, with a total value of $99,872.92. Following the purchase, the director now directly owns 1,442 shares in the company, valued at approximately $99,872.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Pat Beyer bought 3,000 shares of CONMED stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average price of $68.30 per share, with a total value of $204,900.00. Following the acquisition, the chief operating officer now directly owns 10,807 shares of the company's stock, valued at $738,118.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 6,442 shares of company stock valued at $446,733. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of CONMED

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of CONMED during the fourth quarter worth $40,000. Principal Securities Inc. purchased a new stake in shares of CONMED during the fourth quarter worth $46,000. Headlands Technologies LLC purchased a new stake in shares of CONMED during the third quarter worth $64,000. Quadrant Capital Group LLC raised its holdings in shares of CONMED by 44.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company's stock worth $179,000 after acquiring an additional 500 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of CONMED by 70.6% during the first quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company's stock worth $144,000 after acquiring an additional 745 shares in the last quarter.

CONMED Stock Performance

Shares of CONMED stock traded down $0.13 on Tuesday, reaching $74.32. 289,975 shares of the company were exchanged, compared to its average volume of 549,939. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18. The company's 50-day moving average is $73.69 and its two-hundred day moving average is $87.43. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 0.73 and a beta of 1.43. CONMED has a 1-year low of $61.05 and a 1-year high of $138.47.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to analysts' expectations of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. As a group, research analysts expect that CONMED will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, June 14th. CONMED's payout ratio is currently 30.65%.

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.