CONMED (NYSE:CNMD) PT Lowered to $75.00

CONMED (NYSE:CNMD) had its price target trimmed by JPMorgan Chase & Co. from $115.00 to $75.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC decreased their price objective on CONMED from $129.00 to $107.00 and set a buy rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on CONMED from $98.00 to $77.00 and set an equal weight rating for the company in a report on Thursday. Finally, Piper Sandler decreased their price objective on CONMED from $100.00 to $95.00 and set an overweight rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $107.86.

CONMED Stock Up 6.3 %

NYSE:CNMD opened at $65.78 on Thursday. The firm has a market capitalization of $2.03 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The stock has a 50 day moving average of $78.06 and a 200-day moving average of $93.36. CONMED has a 52 week low of $61.05 and a 52 week high of $138.47. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. CONMED had a return on equity of 13.99% and a net margin of 6.53%. Analysts predict that CONMED will post 4.3 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. CONMED’s dividend payout ratio (DPR) is 30.65%.

Institutional Investors Weigh In On CONMED

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of CONMED during the 4th quarter valued at $40,000. Principal Securities Inc. acquired a new stake in shares of CONMED during the 4th quarter valued at $46,000. Headlands Technologies LLC acquired a new stake in shares of CONMED during the 3rd quarter valued at $64,000. Quadrant Capital Group LLC lifted its position in shares of CONMED by 44.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock valued at $179,000 after acquiring an additional 500 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of CONMED by 70.6% during the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after acquiring an additional 745 shares during 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.