CONMED (NYSE:CNMD) Reaches New 1-Year Low - Should You Sell?

CONMED Co. (NYSE:CNMD - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as $59.42 and last traded at $59.75, with a volume of 165605 shares changing hands. The stock had previously closed at $61.42.

Analysts Set New Price Targets

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

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CONMED Stock Down 1.6 %

The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.83 and a beta of 1.46. The company's 50-day moving average price is $67.16 and its 200 day moving average price is $69.52. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS 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%. As a group, equities analysts expect that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

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

Institutional Trading of CONMED

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