Analysts Set CONMED Co. (NYSE:CNMD) Target Price at $120.43

Shares of CONMED Co. (NYSE:CNMD) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat 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 target price among brokers that have issued ratings on the stock in the last year is $107.86.

Several research analysts recently commented on the stock. Piper Sandler cut their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday. Needham & Company LLC cut their price target on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company cut their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday.

CONMED Price Performance

CNMD opened at $65.80 on Monday. The company’s 50 day simple moving average is $78.06 and its 200 day simple moving average is $93.44. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. CONMED has a 1 year low of $61.05 and a 1 year high of $138.47. The stock has a market capitalization of $2.03 billion, a PE ratio of 25.21, a P/E/G ratio of 0.63 and a beta of 1.33.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.99%. The business had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. As a group, sell-side analysts expect that CONMED will post 4.34 EPS for the current year.

CONMED Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Oak Family Advisors LLC lifted its position in shares of CONMED by 21.4% during the first quarter. Oak Family Advisors LLC now owns 7,951 shares of the company’s stock worth $637,000 after purchasing an additional 1,401 shares in the last quarter. Fifth Third Bancorp raised its holdings in CONMED by 3.9% in the first quarter. Fifth Third Bancorp now owns 18,051 shares of the company’s stock valued at $1,446,000 after acquiring an additional 672 shares in the last quarter. Raymond James & Associates raised its holdings in CONMED by 5.3% in the first quarter. Raymond James & Associates now owns 84,635 shares of the company’s stock valued at $6,778,000 after acquiring an additional 4,231 shares in the last quarter. AMI Asset Management Corp raised its holdings in CONMED by 31.1% in the first quarter. AMI Asset Management Corp now owns 55,728 shares of the company’s stock valued at $4,463,000 after acquiring an additional 13,204 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in CONMED by 69.3% in the first quarter. Diversified Trust Co now owns 10,991 shares of the company’s stock valued at $880,000 after acquiring an additional 4,500 shares in the last quarter.

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.