Analysts Set CONMED Co. (NYSE:CNMD) Price Target at $107.86

Shares of CONMED Co. (NYSE:CNMD) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $102.50.

CNMD has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 price objective on shares of CONMED in a report on Monday, May 6th. Piper Sandler dropped their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Wells Fargo & Company dropped their price target on CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th.

Insiders Place Their Bets

In other news, Director Martha Goldberg Aronson acquired 2,000 shares of the stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $141,960. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Pat Beyer acquired 3,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $68.30 per share, for a total transaction of $204,900.00. Following the transaction, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at $738,118.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martha Goldberg Aronson acquired 2,000 shares of the stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $70.98 per share, for a total transaction of $141,960.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $141,960. The disclosure for this purchase can be found here. Insiders have bought 6,442 shares of company stock worth $446,733 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of CONMED by 1.4% in the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after purchasing an additional 121 shares during the period. Olympiad Research LP increased its position in shares of CONMED by 5.9% in the fourth quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock worth $264,000 after purchasing an additional 134 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of CONMED by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock worth $312,000 after purchasing an additional 140 shares during the period. Franklin Resources Inc. increased its position in shares of CONMED by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after purchasing an additional 140 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of CONMED by 2.7% in the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after purchasing an additional 154 shares during the period.

CONMED Trading Down 2.5 %

NYSE:CNMD opened at $73.10 on Friday. CONMED has a twelve month low of $61.05 and a twelve month high of $138.47. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average price of $74.17 and a two-hundred day moving average price of $90.29. The company has a market cap of $2.25 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. As a group, analysts expect that CONMED will post 4.3 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

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.