Conmed Corp. (NASDAQ:CNMD) has received a consensus rating of “Buy” from the six research firms that are presently covering the firm. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $48.75.
A number of research firms recently weighed in on CNMD. Zacks Investment Research raised Conmed Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Leerink Swann downgraded Conmed Corp. from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $56.00 to $47.00 in a research report on Thursday, July 28th.
Shares of Conmed Corp. (NASDAQ:CNMD) opened at 40.23 on Thursday. The firm has a market capitalization of $1.12 billion, a PE ratio of 64.99 and a beta of 0.90. The company has a 50-day moving average price of $40.20 and a 200 day moving average price of $42.21. Conmed Corp. has a 52-week low of $35.51 and a 52-week high of $51.90.
Conmed Corp. (NASDAQ:CNMD) last released its earnings results on Wednesday, July 27th. The medical technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Conmed Corp. had a return on equity of 8.11% and a net margin of 2.36%. The business had revenue of $193.40 million for the quarter, compared to the consensus estimate of $191.48 million. During the same period last year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Conmed Corp. will post $1.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, September 13th. Conmed Corp.’s payout ratio is 129.03%.
A number of large investors have recently added to or reduced their stakes in CNMD. PineBridge Investments L.P. increased its stake in Conmed Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,273 shares of the medical technology company’s stock worth $157,000 after buying an additional 124 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Conmed Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,490 shares of the medical technology company’s stock valued at $167,000 after buying an additional 429 shares during the last quarter. Suntrust Banks Inc. acquired a new position in shares of Conmed Corp. during the second quarter valued at approximately $205,000. CNA Financial Corp acquired a new position in shares of Conmed Corp. during the second quarter valued at approximately $229,000. Finally, Mason Street Advisors LLC acquired a new position in shares of Conmed Corp. during the second quarter valued at approximately $241,000. 98.80% of the stock is currently owned by institutional investors.
Conmed Corp. Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. Its products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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