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CONMED (NYSE:CNMD) Reaches New 52-Week Low - Here's Why

CONMED logo with Medical background

Key Points

  • CONMED Corporation (NYSE:CNMD) reached a new 52-week low trading at $45.00 on Friday, reflecting concerns ahead of its forthcoming Q4 report.
  • Analyst sentiment is mixed, with Needham & Company downgrading the stock to a "hold" rating and a price target of $61.00, while consensus estimates suggest an average price target of $59.80.
  • The company recently reported $1.15 EPS for the last quarter, exceeding expectations, and declared a quarterly dividend of $0.20, yielding 1.8%.
  • MarketBeat previews the top five stocks to own by November 1st.

CONMED Corporation (NYSE:CNMD - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $45.00 and last traded at $45.20, with a volume of 7996 shares. The stock had previously closed at $45.41.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Needham & Company LLC cut CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target on the stock. in a report on Thursday, June 12th. Weiss Ratings restated a "sell (d+)" rating on shares of CONMED in a report on Wednesday. Finally, Piper Sandler reduced their target price on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $59.80.

View Our Latest Report on CONMED

CONMED Price Performance

The firm has a market capitalization of $1.38 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14. The business has a 50-day moving average of $51.59 and a 200 day moving average of $53.23. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88.

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

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, September 15th. CONMED's dividend payout ratio is 22.66%.

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the transaction, the director owned 14,859 shares in the company, valued at $795,253.68. This represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its stake in shares of CONMED by 41.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock worth $74,747,000 after acquiring an additional 360,336 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of CONMED by 36.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock worth $70,900,000 after acquiring an additional 311,288 shares during the period. Geode Capital Management LLC boosted its stake in CONMED by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 734,529 shares of the company's stock worth $38,259,000 after purchasing an additional 19,944 shares during the period. Cooke & Bieler LP boosted its stake in CONMED by 5.8% in the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company's stock worth $42,431,000 after purchasing an additional 38,580 shares during the period. Finally, Principal Financial Group Inc. boosted its stake 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 period.

CONMED Company Profile

(Get Free Report)

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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