CONMED Co. (NYSE:CNMD – Get Free Report)’s stock price 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 traded.
Several other research analysts have also recently commented on the company. Needham & Company LLC reduced their price target on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Piper Sandler cut 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.57.
Check Out Our Latest Research Report on CNMD
Hedge Funds Weigh In On CONMED
CONMED Stock Performance
The company has a market capitalization of $1.97 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33. The business’s fifty day moving average is $78.80 and its two-hundred day moving average is $93.89. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.
CONMED (NYSE:CNMD – Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. CONMED had a net margin of 5.18% and a return on equity of 13.69%. The business had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. Equities research analysts predict that CONMED Co. will post 4.34 earnings per share for the current year.
CONMED Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 39.22%.
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.
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