Brokerages Set CONMED Co. (NYSE:CNMD) Price Target at $77.20

Shares of CONMED Co. (NYSE:CNMD) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $77.20.

Several analysts recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company reduced their price objective 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. JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

Institutional Trading of CONMED

A number of institutional investors and hedge funds have recently bought and sold shares of CNMD. GAMMA Investing LLC grew its position in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of CONMED during the fourth quarter worth about $82,000. CWM LLC grew its position in shares of CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after buying an additional 322 shares in the last quarter.

CONMED Stock Down 0.5 %

NYSE CNMD opened at $60.99 on Friday. CONMED has a 52 week low of $59.50 and a 52 week high of $86.96. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $68.30 and its 200-day simple moving average is $69.77. The firm has a market cap of $1.89 billion, a PE ratio of 14.38, a P/E/G ratio of 1.83 and a beta of 1.46.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, equities analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. CONMED’s dividend payout ratio (DPR) is presently 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.