CONMED Corporation’s (CNMD) “Hold” Rating Reaffirmed at KeyCorp
KeyCorp restated their hold rating on shares of CONMED Corporation (NASDAQ:CNMD) in a research note issued to investors on Friday morning. KeyCorp also issued estimates for CONMED Corporation’s FY2017 earnings at $1.86 EPS, FY2018 earnings at $2.06 EPS and FY2019 earnings at $2.32 EPS.
A number of other equities analysts have also commented on CNMD. Needham & Company LLC increased their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the stock a buy rating in a report on Thursday, July 27th. BidaskClub lowered shares of CONMED Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of CONMED Corporation from a hold rating to a sell rating in a report on Friday, July 28th. TheStreet raised shares of CONMED Corporation from a c+ rating to a b- rating in a report on Thursday, August 3rd. Finally, Piper Jaffray Companies reissued a hold rating and issued a $46.00 price target on shares of CONMED Corporation in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $50.33.
CONMED Corporation (CNMD) traded up $1.01 during midday trading on Friday, reaching $53.37. 102,436 shares of the company’s stock traded hands, compared to its average volume of 88,131. CONMED Corporation has a fifty-two week low of $39.09 and a fifty-two week high of $54.47. The company has a quick ratio of 1.57, a current ratio of 2.62 and a debt-to-equity ratio of 0.83. The stock has a market cap of $1.49 billion, a PE ratio of 30.41, a PEG ratio of 3.35 and a beta of 0.66.
CONMED Corporation (NASDAQ:CNMD) last posted its earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.43%. The business had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. During the same period in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. analysts forecast that CONMED Corporation will post 1.87 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Thursday, September 14th. CONMED Corporation’s payout ratio is 145.45%.
In related news, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the transaction, the director now owns 19,782 shares of the company’s stock, valued at approximately $989,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.62% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CNMD. BlackRock Inc. grew its holdings in shares of CONMED Corporation by 46,036.5% during the 1st quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock valued at $140,043,000 after purchasing an additional 3,146,592 shares during the last quarter. AHL Partners LLP grew its holdings in shares of CONMED Corporation by 2,792.2% during the 2nd quarter. AHL Partners LLP now owns 158,090 shares of the medical technology company’s stock valued at $8,053,000 after purchasing an additional 152,624 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of CONMED Corporation by 315.7% during the 2nd quarter. Heartland Advisors Inc. now owns 165,992 shares of the medical technology company’s stock valued at $8,456,000 after purchasing an additional 126,062 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of CONMED Corporation by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock valued at $114,415,000 after purchasing an additional 111,096 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of CONMED Corporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 2,268,882 shares of the medical technology company’s stock valued at $100,761,000 after purchasing an additional 84,785 shares during the last quarter. 98.36% of the stock is currently 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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