CONMED (NYSE:CNMD) Hits New 1-Year Low at $71.25

CONMED Co. (NYSE:CNMD - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $71.25 and last traded at $71.39, with a volume of 28322 shares traded. The stock had previously closed at $72.76.

Analyst Ratings Changes

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

CONMED Stock Performance

The stock has a market cap of $2.19 billion, a PE ratio of 34.84, a PEG ratio of 0.70 and a beta of 1.33. The stock has a fifty day simple moving average of $79.92 and a two-hundred day simple moving average of $94.66. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.05). The company had revenue of $327.05 million during 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%. Equities analysts anticipate that CONMED Co. will post 4.34 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, March 14th. CONMED's dividend payout ratio (DPR) is currently 39.22%.

Hedge Funds Weigh In On CONMED

Several institutional investors and hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC raised its position in shares of CONMED by 586.7% during the 1st quarter. Belpointe Asset Management LLC now owns 309 shares of the company's stock valued at $32,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of CONMED during the 4th quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in shares of CONMED during the 4th quarter valued at approximately $46,000. Headlands Technologies LLC acquired a new stake in shares of CONMED during the 3rd quarter valued at approximately $64,000. Finally, Tower Research Capital LLC TRC raised its position in shares of CONMED by 712.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 764 shares of the company's stock valued at $79,000 after acquiring an additional 670 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.