CONMED (CNMD) Downgraded by BidaskClub

BidaskClub cut shares of CONMED (NASDAQ:CNMD) from a strong-buy rating to a buy rating in a research report released on Wednesday.

A number of other brokerages have also recently commented on CNMD. Zacks Investment Research upgraded CONMED from a hold rating to a buy rating and set a $57.00 target price on the stock in a report on Wednesday, January 3rd. ValuEngine upgraded CONMED from a hold rating to a buy rating in a report on Thursday, March 1st. Finally, Needham & Company LLC increased their target price on CONMED from $58.00 to $71.00 and gave the company a buy rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $59.00.

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NASDAQ CNMD opened at $61.62 on Wednesday. CONMED has a 1-year low of $40.92 and a 1-year high of $64.99. The company has a market capitalization of $1,764.97, a P/E ratio of 33.21, a PEG ratio of 2.56 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 2.38 and a debt-to-equity ratio of 0.75.

CONMED (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. CONMED had a return on equity of 8.96% and a net margin of 6.97%. The firm had revenue of $222.60 million during the quarter, compared to the consensus estimate of $212.17 million. During the same period last year, the business posted $0.54 EPS. CONMED’s quarterly revenue was up 9.1% on a year-over-year basis. equities research analysts expect that CONMED will post 2.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 42.33%.

In other CONMED news, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $63.90, for a total transaction of $191,700.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Luke A. Pomilio sold 18,023 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $63.38, for a total value of $1,142,297.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,473 shares of company stock worth $2,874,693. 2.62% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new stake in shares of CONMED during the fourth quarter worth $200,000. Jefferies Group LLC acquired a new stake in shares of CONMED during the fourth quarter worth $200,000. Xact Kapitalforvaltning AB acquired a new stake in shares of CONMED during the fourth quarter worth $261,000. Stone Ridge Asset Management LLC acquired a new stake in shares of CONMED during the fourth quarter worth $268,000. Finally, Koch Industries Inc. acquired a new stake in shares of CONMED during the fourth quarter worth $275,000. Institutional investors and hedge funds own 99.57% of the company’s stock.

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CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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