CONMED Co. (NYSE:CNMD) Receives $94.60 Consensus Target Price from Analysts

CONMED Co. (NYSE:CNMD) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $79.80.

CNMD has been the topic of several recent research reports. Piper Sandler decreased their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus cut their target price on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, Needham & Company LLC cut their target price on CONMED from $106.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

CONMED Stock Down 0.4 %

CNMD stock opened at $65.38 on Wednesday. CONMED has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.01 billion, a P/E ratio of 25.05, a PEG ratio of 0.67 and a beta of 1.42. The business’s 50-day moving average price is $70.32 and its 200-day moving average price is $75.88.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. CONMED had a return on equity of 14.12% and a net margin of 7.73%. The company had revenue of $332.10 million for the quarter, compared to analysts’ expectations of $334.39 million. During the same period in the previous year, the firm earned $0.83 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that CONMED will post 3.99 EPS for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, June 14th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Insider Buying and Selling at CONMED

In other news, insider Stanley W. Peters III sold 4,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.82, for a total transaction of $287,280.00. Following the transaction, the insider now owns 63 shares of the company’s stock, valued at approximately $4,524.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CONMED

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of CONMED by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after buying an additional 36,823 shares in the last quarter. Capital Research Global Investors raised its holdings in CONMED by 11.8% in the fourth quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock worth $301,931,000 after purchasing an additional 289,996 shares in the last quarter. Earnest Partners LLC raised its holdings in CONMED by 1.1% in the first quarter. Earnest Partners LLC now owns 2,371,108 shares of the company’s stock worth $189,878,000 after purchasing an additional 25,411 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in CONMED by 36.1% in the first quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock worth $104,349,000 after purchasing an additional 345,735 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in CONMED by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after purchasing an additional 33,794 shares in the last quarter.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.