BidaskClub upgraded shares of CONMED (NASDAQ:CNMD) from a hold rating to a buy rating in a research note published on Friday, March 16th.
CNMD has been the subject of a number of other research reports. Needham & Company LLC increased their price objective on shares of CONMED from $58.00 to $71.00 and gave the company a buy rating in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of CONMED from a hold rating to a buy rating and set a $60.00 price objective for the company in a research note on Tuesday, January 9th. Finally, ValuEngine upgraded shares of CONMED from a hold rating to a buy rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $59.00.
CONMED stock opened at $63.48 on Friday. CONMED has a one year low of $40.54 and a one year high of $64.99. The stock has a market cap of $1,803.02, a price-to-earnings ratio of 33.92, a PEG ratio of 2.62 and a beta of 0.67. The company has a quick ratio of 1.44, a current ratio of 2.38 and a debt-to-equity ratio of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Wednesday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 40.61%.
In related news, VP Terence M. Berge sold 3,868 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.45, for a total transaction of $241,556.60. Following the completion of the sale, the vice president now owns 19,908 shares in the company, valued at approximately $1,243,254.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $63.90, for a total transaction of $191,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,473 shares of company stock valued at $2,874,693 in the last quarter. 2.62% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of CONMED by 2.7% during the 4th quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock worth $167,275,000 after purchasing an additional 85,022 shares in the last quarter. Victory Capital Management Inc. increased its position in CONMED by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,225,574 shares of the medical technology company’s stock valued at $113,438,000 after acquiring an additional 44,988 shares in the last quarter. Goldman Sachs Group Inc. increased its position in CONMED by 6.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,067,319 shares of the medical technology company’s stock valued at $54,401,000 after acquiring an additional 61,617 shares in the last quarter. Macquarie Group Ltd. increased its position in CONMED by 3.2% in the 4th quarter. Macquarie Group Ltd. now owns 755,724 shares of the medical technology company’s stock valued at $38,519,000 after acquiring an additional 23,767 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in CONMED by 6.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 368,745 shares of the medical technology company’s stock valued at $18,795,000 after acquiring an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.
CONMED 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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