CONMED Co. (NASDAQ:CNMD) Given Consensus Recommendation of "Hold" by Brokerages – MarketBeat

CONMED Co. (NASDAQ:CNMD) has earned a consensus rating of "Hold" from the ten research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $88.33.

Several brokerages have commented on CNMD. Zacks Investment Research upgraded CONMED from a "strong sell" rating to a "hold" rating and set a $57.00 target price on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their target price on CONMED from $82.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Piper Sandler raised their price target on shares of CONMED from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, SVB Leerink boosted their price objective on shares of CONMED from $82.00 to $92.00 and gave the company a "market perform" rating in a report on Thursday, July 30th.

In other CONMED news, EVP Wilfredo Ruiz-Caban sold 9,919 shares of CONMED stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $82.02, for a total transaction of $813,556.38. Following the transaction, the executive vice president now owns 25,592 shares of the company's stock, valued at $2,099,055.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel Jonas sold 4,349 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $82.66, for a total transaction of $359,488.34. Following the completion of the transaction, the executive vice president now owns 13,280 shares of the company's stock, valued at $1,097,724.80. The disclosure for this sale can be found here. Insiders own 4.38% of the company's stock.

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A number of hedge funds have recently modified their holdings of CNMD. FMR LLC increased its holdings in shares of CONMED by 0.8% in the first quarter. FMR LLC now owns 293,909 shares of the medical technology company's stock worth $24,447,000 after purchasing an additional 2,373 shares during the last quarter. First Trust Advisors LP boosted its position in shares of CONMED by 8.3% during the 1st quarter. First Trust Advisors LP now owns 40,689 shares of the medical technology company's stock valued at $3,385,000 after acquiring an additional 3,112 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in CONMED in the first quarter worth $150,000. Raymond James & Associates raised its stake in CONMED by 59.9% during the first quarter. Raymond James & Associates now owns 75,252 shares of the medical technology company's stock valued at $4,310,000 after purchasing an additional 28,177 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in CONMED by 24.1% during the first quarter. Texas Permanent School Fund now owns 24,084 shares of the medical technology company's stock valued at $1,379,000 after purchasing an additional 4,673 shares during the last quarter.

Shares of CONMED stock opened at $86.76 on Friday. CONMED has a 1 year low of $37.66 and a 1 year high of $116.81. The firm's 50-day moving average is $82.07 and its 200 day moving average is $76.28. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 91.33, a PEG ratio of 2.18 and a beta of 0.56. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.48 and a quick ratio of 1.40.

CONMED (NASDAQ:CNMD) last issued its earnings results on Wednesday, July 29th. The medical technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.88. The firm had revenue of $157.80 million for the quarter, compared to the consensus estimate of $126.59 million. CONMED had a net margin of 3.00% and a return on equity of 11.18%. The business's revenue was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, equities analysts expect that CONMED will post 3.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, September 14th. CONMED's dividend payout ratio (DPR) is presently 30.30%.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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CONMED Co. (NASDAQ:CNMD) Given Consensus Recommendation of "Hold" by Brokerages - MarketBeat