CONMED (NYSE:CNMD) Given New $75.00 Price Target at Stifel Nicolaus

CONMED (NYSE:CNMD) had its price objective raised by Stifel Nicolaus from $72.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on CNMD. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $70.00 in a research note on Thursday. Needham & Company LLC decreased their price objective 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, Wells Fargo & Company decreased their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Trading Down 8.9 %

Shares of CNMD opened at $67.43 on Thursday. 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 company has a market cap of $2.08 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.04 and a beta of 1.46. The stock has a fifty day moving average price of $70.53 and a two-hundred day moving average price of $70.20. CONMED has a 52-week low of $61.05 and a 52-week high of $88.60.

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

CONMED Announces Dividend

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

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares during the last quarter. HighTower Advisors LLC boosted its stake in CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after acquiring an additional 275 shares during the last quarter. QRG Capital Management Inc. boosted its stake in CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after acquiring an additional 280 shares during the last quarter. Epiq Partners LLC grew its holdings in CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after purchasing an additional 302 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after purchasing an additional 322 shares in the last quarter.

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.