Favorable News Coverage Somewhat Likely to Impact CONMED Corporation (CNMD) Share Price
News articles about CONMED Corporation (NASDAQ:CNMD) have been trending positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. CONMED Corporation earned a media sentiment score of 0.31 on Accern’s scale. Accern also assigned news headlines about the medical technology company an impact score of 50 out of 100, indicating that recent press coverage is somewhat likely to have an effect on the stock’s share price in the immediate future.
Several brokerages have weighed in on CNMD. BidaskClub lowered shares of CONMED Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Needham & Company LLC raised their price objective on shares of CONMED Corporation from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of CONMED Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 28th. Finally, Ladenburg Thalmann Financial Services lowered shares of CONMED Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $50.00 to $48.00 in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.33.
CONMED Corporation (NASDAQ CNMD) opened at 50.75 on Monday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 115.60 and a beta of 0.67. The firm’s 50-day moving average is $51.02 and its 200 day moving average is $46.05. CONMED Corporation has a one year low of $37.60 and a one year high of $52.82.
CONMED Corporation (NASDAQ:CNMD) last released its earnings results on Wednesday, April 26th. The medical technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The firm had revenue of $186.57 million during the quarter, compared to analysts’ expectations of $181.47 million. CONMED Corporation had a net margin of 1.61% and a return on equity of 8.69%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. Analysts forecast that CONMED Corporation will post $1.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, June 13th. CONMED Corporation’s payout ratio is currently 181.82%.
In other news, EVP Daniel Jonas sold 3,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $51.22, for a total value of $153,660.00. Following the completion of the transaction, the executive vice president now owns 14,455 shares in the company, valued at approximately $740,385.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dirk Kuyper sold 1,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total transaction of $52,240.00. Following the completion of the transaction, the director now owns 10,739 shares of the company’s stock, valued at approximately $561,005.36. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.
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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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