Analysts Set CONMED Corporation (NYSE:CNMD) PT at $62.20

CONMED Corporation (NYSE:CNMD) has earned a consensus rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $62.20.

Several analysts have weighed in on CNMD shares. Wells Fargo & Company lowered their price target on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Needham & Company LLC lowered CONMED from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a research note on Thursday, June 12th. Stifel Nicolaus downgraded CONMED from a “buy” rating to a “hold” rating and lowered their price objective for the company from $75.00 to $55.00 in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their price objective on CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st.

CONMED Stock Performance

NYSE:CNMD opened at $52.37 on Friday. The business has a 50 day moving average of $55.03 and a 200 day moving average of $61.06. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.36 and a beta of 1.24. CONMED has a 1-year low of $46.00 and a 1-year high of $78.19. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.26 and a quick ratio of 1.00.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The firm had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a net margin of 9.02% and a return on equity of 14.36%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 EPS. On average, sell-side analysts predict that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, June 13th. CONMED’s dividend payout ratio (DPR) is currently 21.05%.

Insiders Place Their Bets

In other news, Director Charles Farkas sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the completion of the sale, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Trading of CONMED

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in CONMED by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company’s stock worth $244,633,000 after buying an additional 44,777 shares during the period. Earnest Partners LLC lifted its stake in shares of CONMED by 0.9% in the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company’s stock valued at $192,328,000 after purchasing an additional 25,876 shares during the period. Capital Research Global Investors lifted its stake in shares of CONMED by 2.1% in the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company’s stock valued at $107,942,000 after purchasing an additional 32,630 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after purchasing an additional 360,336 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its position in CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after buying an additional 311,288 shares during the period.

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.