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

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

Several research analysts have weighed in on CNMD shares. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

CONMED Stock Performance

Shares of NYSE CNMD opened at $68.73 on Wednesday. CONMED has a 12 month low of $61.05 and a 12 month high of $97.08. The stock has a 50 day moving average of $70.86 and a 200-day moving average of $70.15. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.12 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.77 and a beta of 1.47.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, equities research analysts predict that CONMED will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. CONMED’s dividend payout ratio is presently 19.00%.

Hedge Funds Weigh In On CONMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares in the last quarter. CWM LLC lifted its position in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares during the last quarter. Pacer Advisors Inc. boosted its stake in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after buying an additional 485 shares in the last quarter. nVerses Capital LLC grew its position in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in CONMED during the second quarter worth about $167,000.

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.