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

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 received a consensus recommendation of "Hold" from the five brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $59.80.

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

Institutional Trading of CONMED

Several institutional investors and hedge funds have recently bought and sold shares of CNMD. Silvercrest Asset Management Group LLC acquired a new stake in CONMED during the 4th quarter worth about $68,489,000. Westwood Holdings Group Inc. boosted its position in CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock worth $74,747,000 after purchasing an additional 360,336 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock worth $70,900,000 after purchasing an additional 311,288 shares during the period. Raymond James Financial Inc. boosted its position in CONMED by 46.5% during the first 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 period. Finally, Pacific Capital Partners Ltd bought a new stake in CONMED during the first quarter worth approximately $5,504,000.

CONMED Stock Down 1.5%

CNMD stock opened at $52.73 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. CONMED has a 1-year low of $46.00 and a 1-year high of $78.19. The firm has a fifty day moving average price of $52.35 and a two-hundred day moving average price of $55.17. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.85 and a beta of 1.18.

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

CONMED Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, September 15th. This represents a $0.80 annualized dividend and a yield of 1.5%. CONMED's payout ratio is 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.

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