Shares of CONMED Co. (NYSE:CNMD – Get Free Report) gapped down before the market opened on Thursday after Wells Fargo & Company lowered their price target on the stock from $98.00 to $77.00. The stock had previously closed at $70.01, but opened at $63.37. Wells Fargo & Company currently has an equal weight rating on the stock. CONMED shares last traded at $64.35, with a volume of 469,350 shares changing hands.
CNMD has been the subject of a number of other reports. Needham & Company LLC reduced their price target on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Piper Sandler reduced their price objective on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.57.
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CONMED Stock Performance
The company has a market capitalization of $1.97 billion, a PE ratio of 31.61, a PEG ratio of 0.65 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $78.80 and a two-hundred day moving average price of $93.89.
CONMED (NYSE:CNMD – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. Analysts predict that CONMED Co. will post 4.34 EPS for the current fiscal year.
CONMED Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 39.22%.
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.
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