CONMED Co. (NYSE:CNMD) Receives Average Rating of "Moderate Buy" from Brokerages

CONMED Co. (NYSE:CNMD - Get Free Report) has received a consensus rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $120.43.

A number of brokerages recently commented on CNMD. Wells Fargo & Company dropped their price target on CONMED from $107.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, February 1st. Piper Sandler decreased their price objective on shares of CONMED from $130.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, February 1st. Needham & Company LLC raised their target price on shares of CONMED from $119.00 to $129.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. decreased their target price 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.

Institutional Trading of CONMED

A number of large investors have recently made changes to their positions in the business. Belpointe Asset Management LLC grew its holdings in 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 purchasing an additional 264 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of CONMED during the fourth quarter worth $40,000. Pinebridge Investments L.P. bought a new position in shares of CONMED in the second quarter worth about $46,000. Principal Securities Inc. purchased a new position in CONMED in the 4th quarter worth about $46,000. Finally, Headlands Technologies LLC purchased a new stake in CONMED in the 3rd quarter valued at about $64,000.

CONMED Stock Performance

Shares of NYSE CNMD traded down $0.11 during midday trading on Thursday, reaching $80.03. The company's stock had a trading volume of 407,825 shares, compared to its average volume of 579,391. The stock has a market capitalization of $2.46 billion, a P/E ratio of 39.30, a PEG ratio of 0.70 and a beta of 1.33. The firm has a 50 day moving average price of $84.48 and a 200-day moving average price of $97.62. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. CONMED has a 12-month low of $74.67 and a 12-month high of $138.47.

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

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. CONMED's dividend payout ratio is currently 39.22%.

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.