CONMED Co. (NYSE:CNMD) Receives Average Rating of “Moderate Buy” from Analysts

CONMED Co. (NYSE:CNMDGet Free Report) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $102.50.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $107.00 target price on shares of CONMED in a report on Monday, May 6th. Wells Fargo & Company reduced their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Piper Sandler lowered their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th.

Read Our Latest Stock Analysis on CNMD

CONMED Price Performance

CNMD opened at $74.45 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The business has a fifty day moving average of $73.76 and a 200 day moving average of $87.67. CONMED has a 52-week low of $61.05 and a 52-week high of $138.47. The stock has a market cap of $2.29 billion, a P/E ratio of 28.53, a PEG ratio of 0.73 and a beta of 1.43.

CONMED (NYSE:CNMDGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.78%. The firm had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. As a group, sell-side analysts anticipate that CONMED will post 4.3 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, June 14th. CONMED’s dividend payout ratio is currently 30.65%.

Insider Transactions at CONMED

In other news, COO Pat Beyer acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $68.30 per share, with a total value of $204,900.00. Following the transaction, the chief operating officer now directly owns 10,807 shares in the company, valued at $738,118.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Pat Beyer acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $68.30 per share, with a total value of $204,900.00. Following the transaction, the chief operating officer now directly owns 10,807 shares in the company, valued at $738,118.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martha Goldberg Aronson acquired 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $141,960. The disclosure for this purchase can be found here. Insiders have bought a total of 6,442 shares of company stock valued at $446,733 in the last 90 days. Insiders own 6.80% of the company’s stock.

Institutional Trading of CONMED

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in CONMED by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock worth $78,010,000 after purchasing an additional 33,794 shares during the last quarter. Capital Research Global Investors grew its position in CONMED by 11.8% during the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock worth $301,931,000 after purchasing an additional 289,996 shares during the last quarter. Walleye Capital LLC purchased a new stake in CONMED during the 3rd quarter worth approximately $5,691,000. Victory Capital Management Inc. grew its position in CONMED by 24.9% during the 4th quarter. Victory Capital Management Inc. now owns 9,218 shares of the company’s stock worth $1,009,000 after purchasing an additional 1,837 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in CONMED by 2.7% during the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after purchasing an additional 154 shares during the last quarter.

CONMED Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for CONMED (NYSE:CNMD)

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