CONMED (NYSE:CNMD) Receives Maintains Rating from Needham & Company LLC

Needham & Company LLC restated their maintains rating on shares of CONMED (NYSE:CNMDGet Rating) in a report issued on Tuesday morning, Benzinga reports.

Several other brokerages also recently commented on CNMD. TheStreet downgraded CONMED from a b- rating to a c+ rating in a research note on Tuesday, June 21st. Piper Sandler decreased their price target on CONMED from $160.00 to $118.00 and set an overweight rating for the company in a research report on Thursday, July 28th. Finally, Stifel Nicolaus decreased their price target on CONMED from $160.00 to $110.00 and set a buy rating for the company in a research report on Thursday, June 23rd. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $118.33.

CONMED Stock Up 0.9 %

Shares of NYSE:CNMD opened at $98.46 on Tuesday. The business’s 50 day simple moving average is $100.28 and its two-hundred day simple moving average is $123.99. The firm has a market cap of $2.91 billion, a P/E ratio of 50.75, a PEG ratio of 3.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.16 and a current ratio of 2.34. CONMED has a 52-week low of $87.24 and a 52-week high of $159.11.

CONMED (NYSE:CNMDGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. The firm had revenue of $277.20 million during the quarter, compared to the consensus estimate of $274.22 million. CONMED had a return on equity of 13.20% and a net margin of 6.19%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, research analysts forecast that CONMED will post 3.7 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Wednesday, June 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Tuesday, June 14th. CONMED’s payout ratio is 41.24%.

Insiders Place Their Bets

In other CONMED news, CFO Todd W. Garner sold 2,662 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $99.79, for a total value of $265,640.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CONMED news, CFO Todd W. Garner sold 2,662 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $99.79, for a total value of $265,640.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerome J. Lande sold 1,521 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $117.00, for a total value of $177,957.00. Following the completion of the sale, the director now directly owns 2,407 shares of the company’s stock, valued at $281,619. The disclosure for this sale can be found here. Insiders sold 10,183 shares of company stock valued at $1,136,118 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CONMED

A number of large investors have recently made changes to their positions in CNMD. Allspring Global Investments Holdings LLC bought a new position in shares of CONMED in the fourth quarter worth $2,878,000. Yousif Capital Management LLC bought a new position in shares of CONMED in the fourth quarter worth $3,708,000. Assenagon Asset Management S.A. boosted its holdings in shares of CONMED by 4.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,176 shares of the company’s stock worth $592,000 after acquiring an additional 165 shares during the period. Fifth Third Bancorp boosted its holdings in shares of CONMED by 42.4% in the fourth quarter. Fifth Third Bancorp now owns 252 shares of the company’s stock worth $36,000 after acquiring an additional 75 shares during the period. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of CONMED by 4.5% in the fourth quarter. Moody Aldrich Partners LLC now owns 55,663 shares of the company’s stock worth $7,891,000 after acquiring an additional 2,406 shares during the period.

About CONMED

(Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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