CONMED (NASDAQ:CNMD) had its target price lifted by Stifel Nicolaus from $82.00 to $100.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the medical technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays reaffirmed a buy rating and issued a $110.00 target price on shares of CONMED in a report on Tuesday, April 14th. SVB Leerink upped their price objective on CONMED from $82.00 to $92.00 and gave the company a market perform rating in a research note on Thursday. Zacks Investment Research upgraded CONMED from a strong sell rating to a hold rating and set a $57.00 target price on the stock in a research note on Wednesday, May 6th. Needham & Company LLC restated a hold rating on shares of CONMED in a research note on Thursday, April 30th. Finally, Piper Sandler lifted their price objective on shares of CONMED from $90.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $94.38.

Shares of NASDAQ CNMD opened at $82.54 on Thursday. The stock has a market cap of $2.35 billion, a P/E ratio of 86.88, a P/E/G ratio of 2.18 and a beta of 0.56. CONMED has a twelve month low of $37.66 and a twelve month high of $116.81. The stock has a 50 day moving average of $74.62 and a two-hundred day moving average of $79.48. The company has a current ratio of 2.48, a quick ratio of 1.40 and a debt-to-equity ratio of 1.11.

CONMED (NASDAQ:CNMD) last announced its earnings results on Wednesday, July 29th. The medical technology company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.88. CONMED had a net margin of 3.00% and a return on equity of 11.18%. The business had revenue of $157.80 million for the quarter, compared to analysts’ expectations of $126.59 million. During the same period in the previous year, the company posted $0.56 EPS. The company’s quarterly revenue was down 33.8% on a year-over-year basis. As a group, research analysts predict that CONMED will post 3.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, June 12th. CONMED’s dividend payout ratio is presently 30.30%.

In other CONMED news, EVP Wilfredo Ruiz-Caban sold 9,919 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $82.02, for a total value of $813,556.38. Following the completion of the sale, the executive vice president now owns 25,592 shares of the company’s stock, valued at $2,099,055.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.38% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC increased its position in shares of CONMED by 13.5% in the first quarter. Champlain Investment Partners LLC now owns 1,277,195 shares of the medical technology company’s stock valued at $73,145,000 after buying an additional 151,655 shares in the last quarter. State Street Corp increased its holdings in CONMED by 4.9% during the 1st quarter. State Street Corp now owns 947,386 shares of the medical technology company’s stock valued at $54,444,000 after acquiring an additional 43,869 shares in the last quarter. Principal Financial Group Inc. raised its position in CONMED by 32.0% during the first quarter. Principal Financial Group Inc. now owns 937,097 shares of the medical technology company’s stock worth $53,663,000 after acquiring an additional 227,260 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of CONMED by 3.7% in the fourth quarter. Macquarie Group Ltd. now owns 746,532 shares of the medical technology company’s stock valued at $83,484,000 after purchasing an additional 26,473 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in shares of CONMED by 12.4% in the first quarter. Loomis Sayles & Co. L P now owns 469,068 shares of the medical technology company’s stock valued at $26,863,000 after purchasing an additional 51,600 shares during the last quarter.

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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Analyst Recommendations for CONMED (NASDAQ:CNMD)

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