CONMED Co. (NYSE:CNMD) Given Average Recommendation of “Moderate Buy” by Brokerages

CONMED Co. (NYSE:CNMD) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $120.43.

Several research analysts have weighed in on the stock. Needham & Company LLC increased their price target on shares of CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Wells Fargo & Company decreased their target price on CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. reduced their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Piper Sandler lowered their price objective on CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Versor Investments LP purchased a new stake in shares of CONMED during the 3rd quarter worth approximately $475,000. Walleye Capital LLC bought a new stake in shares of CONMED during the third quarter worth $5,691,000. Trexquant Investment LP purchased a new position in CONMED in the 3rd quarter worth about $2,534,000. California Public Employees Retirement System boosted its position in CONMED by 14.9% in the 3rd quarter. California Public Employees Retirement System now owns 49,065 shares of the company’s stock valued at $4,948,000 after buying an additional 6,356 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of CONMED during the third quarter worth approximately $6,696,000.

CONMED Price Performance

Shares of CNMD opened at $72.64 on Monday. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17. CONMED has a 1-year low of $70.57 and a 1-year high of $138.47. The firm has a market cap of $2.24 billion, a PE ratio of 35.61, a P/E/G ratio of 0.66 and a beta of 1.33. The firm has a fifty day simple moving average of $79.63 and a two-hundred day simple moving average of $94.41.

CONMED (NYSE:CNMD) last announced 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 analysts’ expectations of $332.94 million. On average, equities analysts anticipate that CONMED will post 4.34 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, March 14th. CONMED’s dividend payout ratio is currently 39.22%.

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.