CONMED Co. (NYSE:CNMD) Receives $77.20 Average Target Price from Analysts

CONMED Co. (NYSE:CNMD) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $77.20.

A number of brokerages have recently weighed in on CNMD. Needham & Company LLC lowered their target price on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently modified their holdings of CNMD. GAMMA Investing LLC raised its position in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares during the last quarter. Aquatic Capital Management LLC bought a new position in CONMED during the 4th quarter worth $82,000. Pacer Advisors Inc. raised its position in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares during the last quarter. Smartleaf Asset Management LLC raised its position in CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in CONMED during the 4th quarter worth $210,000.

CONMED Stock Performance

CNMD opened at $61.46 on Thursday. CONMED has a 52-week low of $55.22 and a 52-week high of $81.22. The firm has a market capitalization of $1.90 billion, a PE ratio of 14.50, a PEG ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The business’s 50-day simple moving average is $65.32 and its 200 day simple moving average is $68.81.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, sell-side analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Friday, March 14th. CONMED’s dividend payout ratio is presently 18.87%.

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.