CONMED Co. (CNMD) Given Average Recommendation of “Hold” by Analysts

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.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in CONMED by 3.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after buying an additional 64 shares in the last quarter. SG Americas Securities LLC purchased a new position in CONMED in the 2nd quarter valued at approximately $111,000. Quantbot Technologies LP purchased a new position in CONMED in the 3rd quarter valued at approximately $133,000. Piedmont Investment Advisors LLC purchased a new position in CONMED in the 2nd quarter valued at approximately $273,000. Finally, Crossmark Global Holdings Inc. purchased a new position in CONMED in the 3rd quarter valued at approximately $281,000. Institutional investors own 99.02% 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%.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.chaffeybreeze.com/2018/01/02/conmed-co-cnmd-given-average-recommendation-of-hold-by-analysts.html.

About CONMED

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.

Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply