Analysts Set CONMED Co. (NYSE:CNMD) PT at $62.20

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.20.

CNMD has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC lowered their target price on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th.

CONMED Price Performance

Shares of CNMD traded down $0.61 during trading hours on Tuesday, hitting $57.17. The stock had a trading volume of 212,688 shares, compared to its average volume of 447,821. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.83 and a beta of 1.19. CONMED has a 52 week low of $46.00 and a 52 week high of $78.58. The company's fifty day moving average is $55.42 and its two-hundred day moving average is $63.62.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The business had revenue of $321.26 million for the quarter, compared to analysts' expectations of $313.38 million. During the same quarter last year, the business earned $0.79 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, June 13th. CONMED's payout ratio is 21.05%.

Insider Buying and Selling at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of the company'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 sale, the director now owns 16,346 shares of the company's stock, valued at approximately $930,741.24. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On CONMED

A number of hedge funds have recently added to or reduced their stakes in the business. Bridge City Capital LLC increased its position in CONMED by 20.8% in the 4th quarter. Bridge City Capital LLC now owns 44,056 shares of the company's stock valued at $3,015,000 after buying an additional 7,597 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of CONMED in the 4th quarter worth approximately $18,248,000. Allspring Global Investments Holdings LLC lifted its position in shares of CONMED by 44.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in CONMED during the fourth quarter valued at about $909,000. Finally, Integrated Quantitative Investments LLC bought a new position in CONMED in the 4th quarter worth approximately $947,000.

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.