Barclays Reiterates $78.00 Price Target for CONMED (CNMD)
Barclays set a $78.00 price target on CONMED (NASDAQ:CNMD) in a report issued on Tuesday, MarketBeat reports. The brokerage currently has an equal weight rating on the medical technology company’s stock.
A number of other equities analysts have also issued reports on CNMD. Zacks Investment Research raised shares of CONMED from a hold rating to a buy rating and set a $84.00 price target for the company in a research report on Monday, June 25th. BidaskClub lowered shares of CONMED from a hold rating to a sell rating in a research report on Thursday, October 11th. Finally, Needham & Company LLC raised their price target on shares of CONMED from $73.00 to $83.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $74.40.
CNMD opened at $71.74 on Tuesday. CONMED has a 12-month low of $49.09 and a 12-month high of $83.49. The company has a quick ratio of 1.15, a current ratio of 1.97 and a debt-to-equity ratio of 0.67. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 2.94 and a beta of 0.51.
The company also recently announced a quarterly dividend, which was paid on Monday, October 8th. Stockholders of record on Friday, September 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, September 13th. CONMED’s dividend payout ratio (DPR) is 42.33%.
In other news, EVP Peter K. Shagory sold 2,500 shares of CONMED stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,655 shares of the company’s stock, valued at approximately $292,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Stanley W. Peters III sold 1,500 shares of CONMED stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $80.43, for a total transaction of $120,645.00. Following the transaction, the vice president now directly owns 1,496 shares of the company’s stock, valued at $120,323.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,000 shares of company stock valued at $639,565. Insiders own 3.13% of the company’s stock.
Large investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. acquired a new stake in CONMED in the 2nd quarter valued at $154,000. Itau Unibanco Holding S.A. acquired a new stake in CONMED in the 2nd quarter valued at $165,000. Wendell David Associates Inc. acquired a new stake in CONMED in the 3rd quarter valued at $208,000. Hartford Investment Management Co. acquired a new stake in CONMED in the 2nd quarter valued at $203,000. Finally, Pillar Pacific Capital Management LLC acquired a new stake in CONMED in the 2nd quarter valued at $220,000. 96.44% of the stock is owned by hedge funds and other institutional investors.
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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