Analysts Set CONMED Co. (NYSE:CNMD) Price Target at $77.20

CONMED Co. (NYSE:CNMD - Get Free Report) has received an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $77.20.

Several brokerages recently issued reports on CNMD. Wells Fargo & Company cut their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 6th.

CONMED Stock Down 1.1 %

CNMD traded down $0.59 during trading on Monday, hitting $51.70. 791,867 shares of the company's stock were exchanged, compared to its average volume of 464,895. The stock has a market cap of $1.60 billion, a P/E ratio of 12.19, a PEG ratio of 1.83 and a beta of 1.28. The business's 50 day moving average is $60.28 and its two-hundred day moving average is $66.47. CONMED has a fifty-two week low of $50.43 and a fifty-two week high of $78.58. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, equities analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, March 14th. CONMED's payout ratio is 18.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CNMD. GAMMA Investing LLC grew its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after buying an additional 351 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of CONMED during the fourth quarter valued at about $82,000. Pacer Advisors Inc. increased its holdings in shares of CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after buying an additional 485 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after buying an additional 322 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of CONMED in the 4th quarter valued at about $210,000.

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.