Needham & Company LLC reaffirmed their buy rating on shares of CONMED (NASDAQ:CNMD) in a research note released on Tuesday, Briefing.com Automated Import reports. They currently have a $94.00 price target on the medical technology company’s stock, up from their previous price target of $87.00.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of CONMED from a hold rating to a buy rating and set a $93.00 price target on the stock in a research note on Monday, April 15th. BidaskClub upgraded shares of CONMED from a buy rating to a strong-buy rating in a research note on Wednesday, March 27th. Finally, Barclays began coverage on shares of CONMED in a research note on Tuesday, February 19th. They issued an overweight rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $91.00.

Shares of CONMED stock opened at $79.42 on Tuesday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 36.43, a PEG ratio of 2.97 and a beta of 0.67. CONMED has a 1 year low of $56.90 and a 1 year high of $84.38. The company has a current ratio of 2.33, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Tuesday, January 22nd. The medical technology company reported $0.73 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.73. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $228.40 million. CONMED had a net margin of 4.75% and a return on equity of 9.65%. CONMED’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, analysts expect that CONMED will post 2.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, March 14th. CONMED’s payout ratio is 36.70%.

In other CONMED news, EVP Peter K. Shagory sold 4,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $69.29, for a total value of $277,160.00. Following the completion of the transaction, the executive vice president now owns 5,155 shares of the company’s stock, valued at approximately $357,189.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter K. Shagory sold 3,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $77.77, for a total value of $233,310.00. Following the completion of the transaction, the executive vice president now directly owns 4,649 shares of the company’s stock, valued at approximately $361,552.73. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock valued at $677,250. 3.13% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of CNMD. Bank of New York Mellon Corp raised its position in CONMED by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 421,887 shares of the medical technology company’s stock worth $33,422,000 after buying an additional 17,851 shares during the last quarter. Martingale Asset Management L P raised its position in CONMED by 3.3% in the 3rd quarter. Martingale Asset Management L P now owns 101,229 shares of the medical technology company’s stock worth $8,020,000 after buying an additional 3,200 shares during the last quarter. FMR LLC raised its position in CONMED by 0.8% in the 3rd quarter. FMR LLC now owns 289,078 shares of the medical technology company’s stock worth $22,901,000 after buying an additional 2,298 shares during the last quarter. AMP Capital Investors Ltd purchased a new position in CONMED in the 3rd quarter worth about $437,000. Finally, Allianz Asset Management GmbH purchased a new position in CONMED in the 3rd quarter worth about $2,518,000. 96.69% of the stock is owned by institutional investors and hedge funds.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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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