Conmed Corp. (NASDAQ:CNMD) Given Consensus Rating of “Buy” by Analysts
Shares of Conmed Corp. (NASDAQ:CNMD) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $48.75.
A number of brokerages have recently commented on CNMD. Zacks Investment Research lowered shares of Conmed Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Leerink Swann lowered shares of Conmed Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $56.00 to $47.00 in a report on Thursday, July 28th.
Conmed Corp. (NASDAQ:CNMD) traded down 1.50% during midday trading on Thursday, reaching $40.12. 49,948 shares of the company’s stock traded hands. Conmed Corp. has a 52-week low of $35.51 and a 52-week high of $51.90. The stock has a market cap of $1.12 billion, a P/E ratio of 64.81 and a beta of 0.90. The company’s 50-day moving average price is $40.17 and its 200-day moving average price is $42.23.
Conmed Corp. (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, July 27th. The medical technology company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. The firm had revenue of $193.40 million for the quarter, compared to analyst estimates of $191.48 million. Conmed Corp. had a net margin of 2.36% and a return on equity of 8.11%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, equities analysts predict that Conmed Corp. will post $1.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Tuesday, September 13th. Conmed Corp.’s dividend payout ratio is currently 129.03%.
Institutional investors have recently added to or reduced their stakes in the stock. Scopia Capital Management LP acquired a new position in Conmed Corp. during the first quarter valued at approximately $99,828,000. Dimensional Fund Advisors LP boosted its stake in shares of Conmed Corp. by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,350,620 shares of the medical technology company’s stock valued at $112,193,000 after buying an additional 38,595 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Conmed Corp. by 2.5% in the second quarter. BlackRock Fund Advisors now owns 1,684,436 shares of the medical technology company’s stock valued at $80,398,000 after buying an additional 41,335 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Conmed Corp. by 61.1% in the second quarter. Champlain Investment Partners LLC now owns 1,465,640 shares of the medical technology company’s stock valued at $69,955,000 after buying an additional 556,060 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Conmed Corp. by 103.8% in the first quarter. Goldman Sachs Group Inc. now owns 990,609 shares of the medical technology company’s stock valued at $41,546,000 after buying an additional 504,423 shares during the last quarter. 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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