CONMED (NYSE:CNMD) Hits New 52-Week Low - Time to Sell?

CONMED Co. (NYSE:CNMD - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $46.00 and last traded at $47.71, with a volume of 530716 shares trading hands. The stock had previously closed at $48.59.

Analyst Ratings Changes

Several research analysts have recently issued reports on CNMD shares. Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC decreased their price objective on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price objective on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CONMED has a consensus rating of "Moderate Buy" and an average price target of $77.20.

CONMED Stock Down 0.6 %

The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The firm has a 50 day simple moving average of $56.99 and a 200-day simple moving average of $65.14. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, sell-side analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio is presently 18.87%.

Hedge Funds Weigh In On CONMED

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after acquiring an additional 351 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in CONMED during the fourth quarter valued at approximately $82,000. Pacer Advisors Inc. grew its holdings in CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after purchasing an additional 485 shares during the period. Smartleaf Asset Management LLC raised its holdings in 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 purchasing an additional 322 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in CONMED in the fourth quarter worth $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.