CONMED Co. (NYSE:CNMD) Receives $94.60 Consensus Target Price from Analysts

Shares of CONMED Co. (NYSE:CNMD) have been given an average rating of “Moderate Buy” by the five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $79.80.

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Piper Sandler dropped their target price on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Stifel Nicolaus reduced their price target on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company dropped their price objective on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC reduced their target price on CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday.

Insider Transactions at CONMED

In other news, insider Stanley W. Peters III sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.82, for a total transaction of $287,280.00. Following the transaction, the insider now directly owns 63 shares of the company’s stock, valued at $4,524.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barbara J. Schwarzentraub bought 1,442 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $69.26 per share, for a total transaction of $99,872.92. Following the transaction, the director now owns 1,442 shares of the company’s stock, valued at $99,872.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stanley W. Peters III sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $71.82, for a total transaction of $287,280.00. Following the sale, the insider now directly owns 63 shares of the company’s stock, valued at approximately $4,524.66. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of CONMED by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock valued at $276,823,000 after acquiring an additional 36,823 shares in the last quarter. Capital Research Global Investors raised its position in CONMED by 11.8% in the fourth quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after purchasing an additional 289,996 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of CONMED by 1.1% during the first quarter. Earnest Partners LLC now owns 2,371,108 shares of the company’s stock worth $189,878,000 after purchasing an additional 25,411 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of CONMED by 36.1% in the first quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock valued at $104,349,000 after buying an additional 345,735 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in CONMED by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 712,332 shares of the company’s stock valued at $78,010,000 after buying an additional 33,794 shares during the last quarter.

CONMED Trading Up 5.1 %

NYSE CNMD opened at $68.67 on Wednesday. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18. The stock’s 50 day moving average price is $70.67 and its two-hundred day moving average price is $76.40. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.67 and a beta of 1.42.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 14.12%. The company had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that CONMED will post 3.99 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were paid a $0.20 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 1.16%. 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.