Analysts Set CONMED Co. (NYSE:CNMD) Target Price at $79.80

CONMED Co. (NYSE:CNMD) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $79.80.

A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Friday, October 4th. Stifel Nicolaus dropped their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target 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, Piper Sandler decreased their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st.

Institutional Trading of CONMED

Several hedge funds have recently modified their holdings of CNMD. Public Employees Retirement System of Ohio boosted its holdings in shares of CONMED by 29.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after acquiring an additional 10,736 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of CONMED during the first quarter worth $673,000. Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of CONMED by 29.0% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock valued at $19,884,000 after buying an additional 55,878 shares in the last quarter. Duality Advisers LP raised its holdings in shares of CONMED by 149.5% in the first quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock valued at $1,485,000 after buying an additional 11,110 shares during the last quarter. Finally, Kempner Capital Management Inc. acquired a new position in shares of CONMED during the second quarter worth approximately $6,480,000.

CONMED Price Performance

Shares of CONMED stock opened at $66.38 on Monday. The firm has a fifty day moving average price of $70.17 and a two-hundred day moving average price of $70.93. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.34 and a quick ratio of 1.13. The company has a market cap of $2.04 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.83 earnings per share. Analysts expect that CONMED will post 3.99 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

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.