CONMED (NYSE:CNMD) Sets New 1-Year Low - What's Next?

CONMED Co. (NYSE:CNMD - Get Free Report)'s share price reached a new 52-week low on Tuesday . The company traded as low as $46.00 and last traded at $47.71, with a volume of 530716 shares changing hands. The stock had previously closed at $48.59.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus increased their target price on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wells Fargo & Company cut their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Finally, Needham & Company LLC reduced their price objective on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.20.

CONMED Price Performance

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The stock's 50-day moving average price is $56.99 and its 200 day moving average price is $65.16. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities research analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.58%. CONMED's dividend payout ratio is 18.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in CONMED by 31.5% during the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock worth $5,141,000 after acquiring an additional 17,633 shares during the last quarter. Avity Investment Management Inc. bought a new stake in shares of CONMED during the fourth quarter valued at approximately $278,000. Bridge City Capital LLC increased its holdings in shares of CONMED by 20.8% in the fourth quarter. Bridge City Capital LLC now owns 44,056 shares of the company's stock valued at $3,015,000 after purchasing an additional 7,597 shares in the last quarter. Raymond James Financial Inc. bought a new position in CONMED in the 4th quarter worth approximately $18,248,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in CONMED by 44.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock worth $15,029,000 after buying an additional 68,696 shares in 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.