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

Shares of CONMED Corporation (NYSE:CNMD) have been assigned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. One 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 objective among analysts that have issued a report on the stock in the last year is $59.80.

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

CONMED Trading Up 3.3%

Shares of NYSE CNMD opened at $48.12 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The business’s 50 day moving average price is $51.93 and its 200-day moving average price is $53.53. CONMED has a fifty-two week low of $45.06 and a fifty-two week high of $78.00. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.64 and a beta of 1.14.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. The firm 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 company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, sell-side analysts expect that CONMED will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, September 15th. CONMED’s dividend payout ratio (DPR) is 22.66%.

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the sale, the director owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of CONMED

Several hedge funds and other institutional investors have recently bought and sold shares of CNMD. Westwood Holdings Group Inc. boosted its position in CONMED by 41.1% during the 1st 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 in the last quarter. Fuller & Thaler Asset Management Inc. boosted 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 purchasing an additional 311,288 shares in the last quarter. Raymond James Financial Inc. boosted its position 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 worth $23,592,000 after purchasing an additional 124,050 shares in the last quarter. Pacific Capital Partners Ltd acquired a new stake in shares of CONMED in the 1st quarter worth $5,504,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of CONMED in the 1st quarter worth $5,029,000.

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.