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

CONMED Co. (NYSE:CNMD) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.20.

Several analysts have recently commented on the company. Wells Fargo & Company reduced their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their target price on 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 reduced their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th.

Hedge Funds Weigh In On CONMED

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of CONMED by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company’s stock worth $244,633,000 after acquiring an additional 44,777 shares in the last quarter. Earnest Partners LLC lifted its position in shares of CONMED by 0.9% during the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company’s stock valued at $192,328,000 after buying an additional 25,876 shares during the last quarter. Capital Research Global Investors boosted its position in CONMED by 2.1% during the fourth quarter. Capital Research Global Investors now owns 1,577,172 shares of the company’s stock worth $107,942,000 after purchasing an additional 32,630 shares during the period. Champlain Investment Partners LLC grew its stake in CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after buying an additional 81,970 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new stake in CONMED during the 4th quarter worth about $68,489,000.

CONMED Price Performance

CONMED stock opened at $61.33 on Friday. The stock’s 50 day moving average price is $68.53 and its two-hundred day moving average price is $69.77. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED has a 52-week low of $60.74 and a 52-week high of $86.96.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. On average, equities analysts predict that CONMED will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.30%. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

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.