CONMED Corporation (NYSE:CNMD) Receives Average Rating of "Hold" from Analysts

Key Points

• CONMED Corporation (NYSE:CNMD) received an average analyst rating of "Hold", with one sell rating, four hold ratings, and one buy rating from six research firms.
• The company's latest earnings report showed a 3.1% year-over-year revenue increase, reporting $342.35 million for the quarter, along with a 1.15 EPS which exceeded analysts' estimates.
• CONMED recently declared a quarterly dividend of $0.20 per share, with an annualized yield of 1.7% and a current dividend payout ratio of 22.66%.

Shares of CONMED Corporation (NYSE:CNMD - Get Free Report) have received an average recommendation of "Hold" from the six research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.80.

A number of research firms have weighed in on CNMD. Weiss Ratings restated a "sell (d+)" rating on shares of CONMED in a report on Wednesday, October 8th. Piper Sandler lowered their target price on shares of CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st.

CONMED Stock Performance

CONMED stock opened at $48.15 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The firm has a market capitalization of $1.49 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14. CONMED has a 1-year low of $42.50 and a 1-year high of $78.00. The company's 50-day moving average is $50.11 and its 200 day moving average is $52.33.

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, topping analysts' consensus estimates of $1.13 by $0.02. The business had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The business's revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. Research analysts forecast that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 15th. CONMED's dividend payout ratio is presently 22.66%.

Insider Activity

In other CONMED news, Director Charles Farkas sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $53.52, for a total transaction of $107,040.00. Following the completion of the transaction, the director directly owned 14,859 shares of the company's stock, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by insiders.

Institutional Trading of CONMED

A number of hedge funds have recently added to or reduced their stakes in CNMD. Picton Mahoney Asset Management acquired a new stake in CONMED in the 1st quarter valued at $33,000. CWM LLC grew its position in CONMED by 352.0% in the second quarter. CWM LLC now owns 791 shares of the company's stock worth $41,000 after acquiring an additional 616 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of CONMED during the 2nd quarter worth $48,000. Hilltop National Bank acquired a new stake in shares of CONMED during the second quarter valued at about $55,000. Finally, GAMMA Investing LLC increased its holdings in CONMED by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 1,317 shares of the company's stock valued at $80,000 after purchasing an additional 591 shares during the last quarter.

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.

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