Analysts Set CONMED Corporation (NYSE:CNMD) Price Target at $59.80

Shares of CONMED Corporation (NYSE:CNMD) have earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $59.80.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC downgraded CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Thursday, June 12th. Piper Sandler dropped their price target on CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st.

CONMED Price Performance

CONMED stock opened at $53.78 on Thursday. CONMED has a 12 month low of $46.00 and a 12 month high of $78.19. The stock’s 50 day moving average is $52.48 and its 200-day moving average is $54.91. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.87 and a beta of 1.18.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $342.35 million for the quarter, compared to the consensus estimate of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Equities research analysts expect that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 15th. CONMED’s dividend payout ratio is presently 22.66%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNMD. Silvercrest Asset Management Group LLC bought a new position in shares of CONMED in the 4th quarter valued at $68,489,000. Westwood Holdings Group Inc. raised its position in shares of CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock worth $74,747,000 after acquiring an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of CONMED by 36.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock worth $70,900,000 after acquiring an additional 311,288 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of CONMED by 46.5% in the 1st quarter. Raymond James Financial Inc. now owns 390,675 shares of the company’s stock valued at $23,592,000 after buying an additional 124,050 shares during the period. Finally, Pacific Capital Partners Ltd acquired a new stake in shares of CONMED in the 1st quarter valued at about $5,504,000.

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.