CONMED - CNMD Stock Forecast, Price & News

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries. The company markets orthopedic surgery products under the Hall, CONMED Linvatec, Concept, and Shutt brands. It also offers general surgery products, such as clinical insufflation, smoke evacuation, electrosurgical, and endomechanical products; and endoscopic technologies, including diagnostic and therapeutic products for use in gastroenterology procedures, and products for the treatment of diseases of the biliary structures, as well as cardiac monitoring products comprising ECG and EEG electrodes, and cardiac defibrillation pads. The company markets its products directly to hospitals, surgery centers, and other healthcare institutions, as well as through medical specialty distributors. CONMED Corporation was incorporated in 1970 and is headquartered in Largo, Florida.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CNMD shares. TheStreet cut shares of CONMED from a "b-" rating to a "c+" rating in a research note on Tuesday, June 21st. Piper Sandler cut their price objective on CONMED from $160.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, July 28th. Stifel Nicolaus cut their price objective on CONMED from $160.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 23rd. Finally, Needham & Company LLC cut their price objective on CONMED from $155.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $118.33.

CONMED Stock Performance

CONMED stock traded up $3.45 during mid-day trading on Wednesday, hitting $100.85. 315,507 shares of the company's stock traded hands, compared to its average volume of 370,029. The firm has a 50 day simple moving average of $98.36 and a two-hundred day simple moving average of $122.71. CONMED has a fifty-two week low of $87.24 and a fifty-two week high of $159.11. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 51.96, a P/E/G ratio of 3.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 1.16.

CONMED (NYSE:CNMD - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.01. CONMED had a return on equity of 13.20% and a net margin of 6.19%. The business had revenue of $277.20 million during the quarter, compared to the consensus estimate of $274.22 million. During the same quarter last year, the firm posted $0.71 EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that CONMED will post 3.7 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Tuesday, June 14th. CONMED's dividend payout ratio is currently 41.24%.

Insider Transactions at CONMED

In other news, CFO Todd W. Garner sold 2,662 shares of CONMED stock in a transaction on Monday, June 13th. The stock was sold at an average price of $99.79, for a total transaction of $265,640.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Todd W. Garner sold 2,662 shares of the firm's stock in a transaction on Monday, June 13th. The stock was sold at an average price of $99.79, for a total value of $265,640.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jerome J. Lande sold 6,000 shares of the firm's stock in a transaction on Friday, May 13th. The stock was sold at an average price of $115.42, for a total value of $692,520.00. Following the completion of the transaction, the director now owns 3,928 shares in the company, valued at approximately $453,369.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,183 shares of company stock valued at $1,136,118. 1.10% of the stock is currently owned by corporate insiders.