CONMED Corporation (NYSE:CNMD) Given Average Recommendation of "Hold" by Brokerages

Key Points

• CONMED Corporation (NYSE:CNMD) has received an average recommendation of "Hold" from analysts, with four firms rating it as a hold and one as a buy.
• The company's latest earnings report revealed a 3.1% increase in revenue year-over-year, with earnings per share beating consensus estimates at $1.15.
• Insider trading activity included a sale of 2,000 shares by Director Charles Farkas, reducing his position by nearly 12%.

Shares of CONMED Corporation (NYSE:CNMD - Get Free Report) have been given an average recommendation of "Hold" by the five ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $59.80.

Several equities analysts have recently weighed in on the company. Piper Sandler cut their target price on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. 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 research report on Thursday, June 12th.

Insider Buying and Selling

In other CONMED news, Director Charles Farkas sold 2,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total value of $107,040.00. Following the transaction, the director owned 14,859 shares of the company's stock, valued at $795,253.68. This represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CONMED

Hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new position in CONMED in the 1st quarter valued at $33,000. CWM LLC grew its position in shares of CONMED by 352.0% during the 2nd quarter. CWM LLC now owns 791 shares of the company's stock worth $41,000 after buying an additional 616 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of CONMED during the 2nd quarter worth $48,000. Hilltop National Bank bought a new position in shares of CONMED during the 2nd quarter worth $55,000. Finally, GAMMA Investing LLC grew its position in shares of CONMED by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock worth $80,000 after buying an additional 591 shares in the last quarter.

CONMED Stock Performance

NYSE CNMD opened at $45.89 on Monday. The company has a market cap of $1.42 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.57 and a beta of 1.18. 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 $52.18 and its 200-day moving average price is $53.98. CONMED has a fifty-two week low of $45.06 and a fifty-two week high of $78.00.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, beating 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Sell-side analysts predict that CONMED will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, September 15th. CONMED's dividend payout ratio is 22.66%.

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.

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