CONMED Co. (NYSE:CNMD) Receives $120.43 Average Price Target from Brokerages

Shares of CONMED Co. (NYSE:CNMD) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $120.43.

Several equities analysts recently issued reports on CNMD shares. JPMorgan Chase & Co. lowered their price objective on CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Needham & Company LLC lifted their price objective on CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Wells Fargo & Company lowered their target price on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Finally, Piper Sandler dropped their price target on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st.

Hedge Funds Weigh In On CONMED

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of CONMED in the fourth quarter valued at about $40,000. Principal Securities Inc. bought a new position in CONMED in the 4th quarter worth approximately $46,000. Headlands Technologies LLC purchased a new stake in CONMED during the 3rd quarter valued at approximately $64,000. AdvisorNet Financial Inc raised its position in shares of CONMED by 30.7% during the third quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company’s stock valued at $106,000 after buying an additional 248 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its holdings in shares of CONMED by 445.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,506 shares of the company’s stock worth $152,000 after buying an additional 1,230 shares in the last quarter.

CONMED Stock Performance

Shares of CONMED stock opened at $69.88 on Monday. CONMED has a 1 year low of $69.78 and a 1 year high of $138.47. The firm’s 50-day moving average is $78.80 and its 200 day moving average is $93.89. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 0.66 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.05). CONMED had a return on equity of 13.69% and a net margin of 5.18%. The firm had revenue of $327.05 million during the quarter, compared to the consensus estimate of $332.94 million. Sell-side analysts anticipate that CONMED will post 4.34 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. CONMED’s dividend payout ratio (DPR) is 39.22%.

CONMED Company Profile

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.