CONMED Co. (NYSE:CNMD) Receives $79.80 Consensus Price Target from Brokerages

Shares of CONMED Co. (NYSE:CNMD) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $79.80.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler dropped their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company reduced their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. StockNews.com upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Needham & Company LLC reduced their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, August 1st.

CONMED Stock Performance

Shares of NYSE CNMD opened at $73.33 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. The stock has a 50 day moving average price of $71.03 and a 200 day moving average price of $72.45. The stock has a market capitalization of $2.26 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $332.10 million during the quarter, compared to the consensus estimate of $334.39 million. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Analysts predict that CONMED will post 3.99 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.80 annualized dividend and a yield of 1.09%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in CONMED during the second quarter worth about $39,000. Innealta Capital LLC bought a new position in shares of CONMED during the second quarter worth approximately $41,000. Principal Securities Inc. bought a new position in shares of CONMED during the fourth quarter worth approximately $46,000. Hilltop National Bank raised its position in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after buying an additional 636 shares during the period.

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.