Shares of CONMED Co. (NASDAQ:CNMD) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $50.67.
Several analysts have recently commented on the company. KeyCorp restated a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $46.00 price target on shares of CONMED in a research report on Friday, November 3rd. Zacks Investment Research cut shares of CONMED from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $58.00 price target on shares of CONMED in a research report on Friday, November 17th. Finally, BidaskClub cut shares of CONMED from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 27th.
In other news, EVP Luke A. Pomilio sold 29,363 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the completion of the sale, the executive vice president now owns 45,486 shares in the company, valued at approximately $2,306,140.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luke A. Pomilio sold 10,020 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.57, for a total transaction of $536,771.40. Following the sale, the executive vice president now owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,812 shares of company stock worth $2,654,756. Insiders own 2.62% of the company’s stock.
CONMED (CNMD) opened at $50.97 on Tuesday. CONMED has a 12 month low of $39.74 and a 12 month high of $54.77. The company has a market capitalization of $1,423.79, a price-to-earnings ratio of 91.02, a PEG ratio of 3.23 and a beta of 0.66. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. CONMED had a return on equity of 8.40% and a net margin of 1.99%. CONMED’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. sell-side analysts predict that CONMED will post 1.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.20 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 1.57%. CONMED’s payout ratio is 142.86%.
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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. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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