News headlines about CONMED (NASDAQ:CNMD) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. CONMED earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave media stories about the medical technology company an impact score of 45.1581421720341 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
A number of equities analysts recently weighed in on CNMD shares. BidaskClub lowered shares of CONMED from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Wednesday, January 3rd. Needham & Company LLC upped their target price on shares of CONMED from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, ValuEngine upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. CONMED presently has an average rating of “Buy” and a consensus target price of $59.00.
Shares of CNMD stock opened at $64.53 on Wednesday. The stock has a market cap of $1,801.06, a price-to-earnings ratio of 32.76, a P/E/G ratio of 2.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.44 and a current ratio of 2.38. CONMED has a 12 month low of $40.54 and a 12 month high of $64.99.
CONMED (NASDAQ:CNMD) last released its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The company had revenue of $222.60 million for the quarter, compared to the consensus estimate of $212.17 million. CONMED had a net margin of 6.97% and a return on equity of 8.96%. CONMED’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. equities analysts forecast that CONMED will post 2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, March 14th. CONMED’s payout ratio is 40.61%.
In related news, CFO Luke A. Pomilio sold 19,620 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $60.19, for a total transaction of $1,180,927.80. Following the sale, the chief financial officer now owns 600 shares of the company’s stock, valued at $36,114. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Terence M. Berge sold 3,868 shares of the stock in a transaction on 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 directly owns 19,908 shares in the company, valued at approximately $1,243,254.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,473 shares of company stock worth $2,874,693. 2.62% of the stock is owned by insiders.
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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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