Analysts Set CONMED Corporation (NYSE:CNMD) Target Price at $62.20

Shares of CONMED Corporation (NYSE:CNMD - Get Free Report) have been assigned an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $62.20.

Several analysts have weighed in on CNMD shares. Wall Street Zen lowered shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC lowered shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target for the company. in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price target 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. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and lowered their price target for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the completion of the sale, the director directly owned 16,346 shares of the company's stock, valued at approximately $930,741.24. This represents a 19.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently bought and sold shares of CNMD. Charles Schwab Investment Management Inc. lifted its holdings in CONMED by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,950 shares of the company's stock valued at $26,209,000 after acquiring an additional 1,537 shares during the last quarter. Victory Capital Management Inc. lifted its stake in CONMED by 36.6% during the fourth quarter. Victory Capital Management Inc. now owns 14,984 shares of the company's stock valued at $1,026,000 after buying an additional 4,013 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in CONMED during the fourth quarter valued at about $909,000. Raymond James Financial Inc. purchased a new stake in CONMED during the fourth quarter valued at about $18,248,000. Finally, Swiss National Bank lifted its stake in CONMED by 0.8% during the fourth quarter. Swiss National Bank now owns 60,600 shares of the company's stock valued at $4,147,000 after buying an additional 500 shares in the last quarter.

CONMED Stock Down 1.6%

Shares of NYSE CNMD traded down $0.82 during trading on Wednesday, reaching $49.12. 282,725 shares of the stock were exchanged, compared to its average volume of 447,404. The business's 50-day moving average price is $55.13 and its 200 day moving average price is $59.09. CONMED has a twelve month low of $46.00 and a twelve month high of $78.19. The company has a quick ratio of 1.00, a current ratio of 2.26 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20.

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. The firm had revenue of $321.26 million for the quarter, compared to analysts' expectations of $313.38 million. CONMED had a net margin of 9.02% and a return on equity of 14.36%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, June 13th. CONMED's payout ratio is currently 21.05%.

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.