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

CONMED Co. (NYSE:CNMD) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $79.80.

Several analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Piper Sandler dropped their target price on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC decreased their price target on shares of CONMED from $106.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.

CONMED Price Performance

CNMD stock opened at $73.33 on Thursday. The company’s 50-day moving average price is $71.03 and its two-hundred day moving average price is $72.45. The firm has a market cap of $2.26 billion, a P/E ratio of 28.10, a P/E/G ratio of 0.98 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. CONMED has a 12 month low of $61.05 and a 12 month high of $117.27.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The business had revenue of $332.10 million for the quarter, compared to analysts’ expectations of $334.39 million. During the same period last year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that CONMED will post 3.99 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. CONMED’s dividend payout ratio (DPR) is currently 30.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new stake in CONMED during the second quarter worth approximately $39,000. Innealta Capital LLC bought a new position in shares of CONMED during the 2nd quarter worth approximately $41,000. Principal Securities Inc. acquired a new stake in shares of CONMED during the 4th quarter worth approximately $46,000. Hilltop National Bank increased its stake in shares of CONMED by 31.0% in the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after acquiring an additional 195 shares in the last quarter. Finally, CWM LLC lifted its position in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after acquiring an additional 636 shares during the period.

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.