CONMED (NYSE:CNMD) Hits New 1-Year Low – What’s Next?

Shares of CONMED Co. (NYSE:CNMD) hit a new 52-week low on Thursday . The stock traded as low as $60.74 and last traded at $60.88, with a volume of 140959 shares traded. The stock had previously closed at $63.02.

Wall Street Analysts Forecast Growth

CNMD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC decreased their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, CONMED presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Performance

The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The stock’s 50 day moving average price is $68.75 and its 200 day moving average price is $69.83. The company has a market capitalization of $1.90 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, equities analysts expect that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is 18.87%.

Institutional Investors Weigh In On CONMED

A number of large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CONMED by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company’s stock worth $5,347,000 after purchasing an additional 11,059 shares in the last quarter. Squarepoint Ops LLC bought a new position in CONMED in the fourth quarter worth approximately $849,000. Silvercrest Asset Management Group LLC acquired a new stake in CONMED in the fourth quarter valued at approximately $68,489,000. ProShare Advisors LLC increased its holdings in shares of CONMED by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 9,300 shares of the company’s stock valued at $636,000 after acquiring an additional 2,865 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of CONMED during the fourth quarter valued at approximately $222,000.

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.