CONMED (NYSE:CNMD) Trading Down 5.7% - Should You Sell?

CONMED Co. (NYSE:CNMD - Get Free Report) shares were down 5.7% on Tuesday . The stock traded as low as $48.61 and last traded at $48.10. Approximately 205,518 shares were traded during trading, a decline of 56% from the average daily volume of 465,219 shares. The stock had previously closed at $50.98.

Analysts Set New Price Targets

CNMD has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CONMED currently has a consensus rating of "Moderate Buy" and an average price target of $77.20.

CONMED Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The stock's 50 day simple moving average is $58.36 and its 200 day simple moving average is $65.69. The firm has a market cap of $1.50 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

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

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued 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 1.65%. CONMED's dividend payout ratio (DPR) is currently 18.87%.

Hedge Funds Weigh In On CONMED

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in CONMED by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock worth $244,633,000 after acquiring an additional 44,777 shares during the period. Earnest Partners LLC raised its stake in shares of CONMED by 0.9% during the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after purchasing an additional 25,876 shares during the period. Capital Research Global Investors boosted its holdings in shares of CONMED by 2.1% in the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after buying an additional 32,630 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in CONMED during the fourth quarter valued at about $68,489,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in CONMED during the fourth quarter worth about $59,046,000.

About CONMED

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.