CONMED Corporation (NYSE:CNMD) Receives $59.80 Average Price Target from Analysts

CONMED Corporation (NYSE:CNMD) has earned an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $59.80.

Several research firms have weighed in on CNMD. Piper Sandler dropped their target price on shares of CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Needham & Company LLC lowered CONMED from a “buy” rating to a “hold” rating and set a $61.00 price objective on the stock. in a research note on Thursday, June 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a report on Saturday, September 27th.

Insider Buying and Selling

In related news, Director Charles Farkas sold 2,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the transaction, the director directly owned 14,859 shares in the company, valued at approximately $795,253.68. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its position in CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after acquiring an additional 360,336 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake 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 valued at $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CONMED by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 734,529 shares of the company’s stock worth $38,259,000 after purchasing an additional 19,944 shares during the period. Cooke & Bieler LP increased its position in CONMED by 5.8% during the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock worth $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in CONMED by 1.5% during the first quarter. Principal Financial Group Inc. now owns 634,677 shares of the company’s stock worth $38,328,000 after buying an additional 9,619 shares during the period.

CONMED Price Performance

Shares of NYSE CNMD opened at $48.12 on Monday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 13.63, a PEG ratio of 1.59 and a beta of 1.14. CONMED has a one year low of $45.06 and a one year high of $78.00. The company’s fifty day moving average is $51.93 and its two-hundred day moving average is $53.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23.

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

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. CONMED’s payout ratio is currently 22.66%.

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.