CONMED (NYSE:CNMD) Hits New 52-Week Low – Here’s Why

CONMED Corporation (NYSE:CNMD)’s share price hit a new 52-week low on Friday . The stock traded as low as $45.00 and last traded at $45.20, with a volume of 7996 shares changing hands. The stock had previously closed at $45.41.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday. Piper Sandler decreased their price target on CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.80.

CONMED Stock Down 6.2%

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The stock’s fifty day simple moving average is $51.39 and its 200-day simple moving average is $53.06. The stock has a market cap of $1.32 billion, a P/E ratio of 12.07, a PEG ratio of 1.45 and a beta of 1.14.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm had revenue of $342.35 million for the quarter, compared to analysts’ expectations of $338.42 million. During the same quarter last year, the company posted $0.98 earnings per share. CONMED’s revenue was up 3.1% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. On average, research analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. CONMED’s dividend payout ratio (DPR) is currently 22.66%.

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the transaction, the director owned 14,859 shares of the company’s stock, valued at $795,253.68. This trade represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CONMED

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of CONMED by 81.4% during the first quarter. GAMMA Investing LLC now owns 1,317 shares of the company’s stock valued at $80,000 after buying an additional 591 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of CONMED by 2.3% during the first quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company’s stock valued at $586,000 after buying an additional 217 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of CONMED by 7.0% during the first quarter. QRG Capital Management Inc. now owns 5,326 shares of the company’s stock valued at $322,000 after buying an additional 350 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of CONMED by 49.5% during the first quarter. Blue Trust Inc. now owns 5,140 shares of the company’s stock valued at $310,000 after buying an additional 1,702 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new stake in shares of CONMED during the first quarter valued at approximately $5,029,000.

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.