CONMED (NYSE:CNMD) Price Target Raised to $75.00

CONMED (NYSE:CNMD) had its price target boosted by Stifel Nicolaus from $72.00 to $75.00 in a research note released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms also recently issued reports on CNMD. Wells Fargo & Company dropped their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC dropped their target price on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $70.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Price Performance

Shares of CNMD opened at $67.43 on Thursday. The stock has a 50 day simple moving average of $70.53 and a 200 day simple moving average of $70.20. CONMED has a 52-week low of $61.05 and a 52-week high of $88.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The firm has a market capitalization of $2.08 billion, a PE ratio of 16.02, a P/E/G ratio of 1.04 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Sell-side analysts predict that CONMED will post 4.03 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.19%. CONMED’s dividend payout ratio (DPR) is presently 19.00%.

Institutional Investors Weigh In On CONMED

Several large investors have recently made changes to their positions in CNMD. The Manufacturers Life Insurance Company raised its position in CONMED by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,171 shares of the company’s stock worth $1,190,000 after acquiring an additional 1,154 shares in the last quarter. Creative Planning increased its stake in shares of CONMED by 83.6% during the 2nd quarter. Creative Planning now owns 7,136 shares of the company’s stock worth $495,000 after purchasing an additional 3,250 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of CONMED in the 2nd quarter valued at about $913,000. SG Americas Securities LLC lifted its stake in CONMED by 117.6% in the 3rd quarter. SG Americas Securities LLC now owns 10,924 shares of the company’s stock valued at $786,000 after purchasing an additional 5,903 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in CONMED by 18.0% during the third quarter. Diversified Trust Co now owns 13,275 shares of the company’s stock worth $955,000 after purchasing an additional 2,025 shares during the period.

About CONMED

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