CONMED Corporation (NYSE:CNMD) Receives $62.20 Consensus Price Target from Brokerages

CONMED Corporation (NYSE:CNMD) has received a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $62.20.

Several research firms have recently issued reports on CNMD. Wells Fargo & Company lowered their price target on CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus cut shares of CONMED from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $55.00 in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a report on Thursday, June 12th. Finally, Wall Street Zen lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th.

CONMED Price Performance

CNMD stock opened at $52.37 on Friday. The firm has a 50 day moving average price of $55.03 and a 200-day moving average price of $61.06. CONMED has a 52-week low of $46.00 and a 52-week high of $78.19. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 2.26.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to analysts’ expectations of $313.38 million. CONMED had a return on equity of 14.36% and a net margin of 9.02%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities research analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, June 13th. CONMED’s dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director now directly owns 16,346 shares in the company, valued at approximately $930,741.24. The trade was a 19.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Trading of CONMED

Hedge funds have recently bought and sold shares of the company. Beverly Hills Private Wealth LLC increased its holdings in CONMED by 4.7% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock valued at $257,000 after buying an additional 168 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of CONMED by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock worth $221,000 after purchasing an additional 205 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company’s stock worth $586,000 after purchasing an additional 217 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of CONMED by 4.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,462 shares of the company’s stock worth $330,000 after purchasing an additional 239 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of CONMED by 15.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after purchasing an additional 298 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.