CONMED (NYSE:CNMD) Sets New 52-Week Low at $74.19

CONMED Co. (NYSE:CNMD - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $74.19 and last traded at $74.19, with a volume of 66889 shares trading hands. The stock had previously closed at $76.07.

Wall Street Analyst Weigh In

CNMD has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of CONMED from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, February 1st. Needham & Company LLC raised their target price on shares of CONMED from $119.00 to $129.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Wells Fargo & Company reduced their target price on shares of CONMED from $107.00 to $98.00 and set an "equal weight" rating on the stock in a report on Thursday, February 1st. Finally, Piper Sandler reduced their target price on shares of CONMED from $130.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, CONMED currently has an average rating of "Moderate Buy" and an average target price of $120.43.

CONMED Stock Down 1.9 %

The firm has a market cap of $2.30 billion, a PE ratio of 36.37, a P/E/G ratio of 0.72 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. The firm's 50-day moving average price is $80.79 and its two-hundred day moving average price is $95.56.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). The company had revenue of $327.05 million for the quarter, compared to analysts' expectations of $332.94 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. As a group, equities research analysts expect that CONMED Co. will post 4.34 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. CONMED's dividend payout ratio is presently 39.22%.

Institutional Trading of CONMED

Institutional investors and hedge funds have recently bought and sold shares of the business. Versor Investments LP purchased a new stake in CONMED in the 3rd quarter valued at $475,000. Walleye Capital LLC purchased a new stake in CONMED in the 3rd quarter valued at $5,691,000. Trexquant Investment LP purchased a new stake in CONMED in the 3rd quarter valued at $2,534,000. California Public Employees Retirement System raised its position in CONMED by 14.9% in the 3rd quarter. California Public Employees Retirement System now owns 49,065 shares of the company's stock valued at $4,948,000 after purchasing an additional 6,356 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in CONMED in the 3rd quarter valued at $6,696,000.

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.