CONMED Co. (NYSE:CNMD) Receives $79.80 Average Price Target from Brokerages

by · The Markets Daily

Shares of CONMED Co. (NYSE:CNMD – Get Free Report) have been given an average rating of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $79.80.

Several equities research analysts have recently commented on the company. Stifel Nicolaus reduced their target price on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. StockNews.com upgraded shares of CONMED from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Friday, October 4th. Piper Sandler lowered their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Wells Fargo & Company decreased their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st.

Read Our Latest Stock Report on CONMED

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Earnest Partners LLC raised its position in shares of CONMED by 18.9% in the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after purchasing an additional 447,498 shares during the period. Champlain Investment Partners LLC lifted its position in CONMED by 36.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock worth $104,349,000 after acquiring an additional 345,735 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of CONMED in the first quarter valued at about $27,343,000. Deerfield Management Company L.P. Series C increased its stake in shares of CONMED by 86.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock worth $43,759,000 after purchasing an additional 293,099 shares during the period. Finally, Cooke & Bieler LP lifted its position in shares of CONMED by 49.8% during the 2nd quarter. Cooke & Bieler LP now owns 628,621 shares of the company’s stock worth $43,576,000 after purchasing an additional 209,064 shares during the last quarter.

CONMED Price Performance

Shares of CONMED stock opened at $66.38 on Monday. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The company has a current ratio of 2.34, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. The stock has a market cap of $2.04 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46. The company’s 50-day moving average price is $70.17 and its two-hundred day moving average price is $70.93.

CONMED (NYSE:CNMD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The firm had revenue of $332.10 million for the quarter, compared to analyst estimates of $334.39 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that CONMED will post 3.99 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were given a $0.20 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. CONMED’s dividend payout ratio is currently 30.65%.

CONMED Company Profile

(Get Free Report

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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