CONMED Co. (NYSE:CNMD) Receives $77.20 Consensus Price Target from Analysts

CONMED Co. (NYSE:CNMD - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $77.20.

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

CONMED Stock Down 1.1 %

NYSE CNMD traded down $0.64 during trading on Thursday, hitting $58.49. The company's stock had a trading volume of 320,591 shares, compared to its average volume of 447,656. CONMED has a fifty-two week low of $55.22 and a fifty-two week high of $86.96. The company has a market cap of $1.81 billion, a PE ratio of 13.79, a P/E/G ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The business's 50 day simple moving average is $65.82 and its 200-day simple moving average is $69.10.

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CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $1.34 EPS 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%. On average, equities analysts anticipate that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.37%. CONMED's dividend payout ratio is presently 18.87%.

Hedge Funds Weigh In On CONMED

Institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CONMED by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company's stock valued at $5,347,000 after buying an additional 11,059 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in CONMED in the 4th quarter worth $849,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of CONMED during the fourth quarter worth about $68,489,000. ProShare Advisors LLC raised 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 during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in CONMED in the 4th quarter valued at $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.