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

Key Points

• CONMED Corporation (NYSE:CNMD) has received a consensus rating of "Hold" from five brokerages, with one analyst assigning a buy rating and an average price target of $59.80.
• The company reported a net margin of 8.31% and revenue of $342.35 million for the last quarter, exceeding analyst estimates.
• CONMED declared a quarterly dividend of $0.20 per share, reflecting an annual yield of 1.5% and a payout ratio of 22.66%.

Shares of CONMED Corporation (NYSE:CNMD - Get Free Report) have earned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $59.80.

CNMD has been the subject of several recent research reports. Needham & Company LLC cut CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target for the company. in a research note on Thursday, June 12th. Piper Sandler lowered their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st.

Institutional Investors Weigh In On CONMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its holdings in CONMED by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock worth $586,000 after purchasing an additional 217 shares during the last quarter. GAMMA Investing LLC lifted its holdings in CONMED by 10,855.1% in the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock worth $4,803,000 after purchasing an additional 78,808 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in CONMED by 46.5% in the 1st quarter. Raymond James Financial Inc. now owns 390,675 shares of the company's stock worth $23,592,000 after purchasing an additional 124,050 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CONMED by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 257,712 shares of the company's stock worth $15,308,000 after purchasing an additional 34,570 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in CONMED by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 634,677 shares of the company's stock worth $38,328,000 after purchasing an additional 9,619 shares during the last quarter.

CONMED Stock Down 1.9%

Shares of CNMD stock traded down $1.04 during trading on Thursday, hitting $53.93. 15,478 shares of the company were exchanged, compared to its average volume of 470,053. 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 firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.87 and a beta of 1.18. The business's 50-day simple moving average is $52.45 and its 200 day simple moving average is $54.96. CONMED has a twelve month low of $46.00 and a twelve month high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. The business had revenue of $342.35 million during the quarter, compared to analysts' expectations of $338.42 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. CONMED's payout ratio is presently 22.66%.

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.