CONMED Corporation (NASDAQ:CNMD) PT Raised to $57.00 at Needham & Company LLC
CONMED Corporation (NASDAQ:CNMD) had its price objective boosted by Needham & Company LLC from $54.00 to $57.00 in a research note released on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the medical technology company’s stock.
CNMD has been the subject of several other research reports. BidaskClub upgraded CONMED Corporation from a buy rating to a strong-buy rating in a research report on Saturday, June 10th. Ladenburg Thalmann Financial Services downgraded CONMED Corporation from a buy rating to a neutral rating and cut their target price for the stock from $50.00 to $48.00 in a research report on Thursday, April 27th. Finally, Zacks Investment Research upgraded CONMED Corporation from a sell rating to a hold rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. CONMED Corporation currently has a consensus rating of Hold and a consensus price target of $49.33.
CONMED Corporation (NASDAQ CNMD) traded up 0.27% during midday trading on Thursday, hitting $51.30. The company had a trading volume of 11,857 shares. The company has a market cap of $1.43 billion, a P/E ratio of 91.77 and a beta of 0.67. The company’s 50 day moving average is $50.87 and its 200-day moving average is $46.91. CONMED Corporation has a one year low of $37.60 and a one year high of $52.82.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. The company had revenue of $197.20 million during the quarter, compared to the consensus estimate of $194.50 million. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. On average, equities analysts predict that CONMED Corporation will post $1.86 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. CONMED Corporation’s dividend payout ratio is 142.86%.
In other news, EVP Daniel Jonas sold 3,000 shares of CONMED Corporation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $51.22, for a total value of $153,660.00. Following the completion of the sale, the executive vice president now directly owns 14,455 shares of the company’s stock, valued at approximately $740,385.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kuyper sold 1,000 shares of CONMED Corporation stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the completion of the sale, the director now directly owns 10,739 shares of the company’s stock, valued at $561,005.36. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock valued at $121,000 after buying an additional 50 shares during the period. Louisiana State Employees Retirement System boosted its stake in CONMED Corporation by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the medical technology company’s stock valued at $449,000 after buying an additional 100 shares during the period. Rothschild Asset Management Inc. boosted its stake in CONMED Corporation by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 35,232 shares of the medical technology company’s stock valued at $1,795,000 after buying an additional 107 shares during the period. Texas Permanent School Fund boosted its stake in CONMED Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock valued at $923,000 after buying an additional 173 shares during the period. Finally, Arizona State Retirement System boosted its stake in CONMED Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 12,903 shares of the medical technology company’s stock valued at $573,000 after buying an additional 200 shares during the period. 99.77% of the stock is owned by institutional investors.
CONMED Corporation Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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