CONMED Co. (NYSE:CNMD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CONMED Co. (NYSE:CNMDGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $102.50.

A number of research analysts have weighed in on CNMD shares. JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price target on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $107.00 price target on shares of CONMED in a research report on Monday, May 6th. Finally, Piper Sandler reduced their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th.

Read Our Latest Analysis on CONMED

Insider Activity at CONMED

In other CONMED news, Director Barbara J. Schwarzentraub acquired 1,442 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $69.26 per share, with a total value of $99,872.92. Following the purchase, the director now owns 1,442 shares in the company, valued at $99,872.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CONMED news, COO Pat Beyer acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was bought at an average price of $68.30 per share, with a total value of $204,900.00. Following the purchase, the chief operating officer now owns 10,807 shares in the company, valued at $738,118.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara J. Schwarzentraub acquired 1,442 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $69.26 per share, with a total value of $99,872.92. Following the purchase, the director now owns 1,442 shares in the company, valued at approximately $99,872.92. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,442 shares of company stock valued at $446,733. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of CONMED

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of 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 period. Intrinsic Edge Capital Management LLC grew its stake in shares of CONMED by 672.5% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 77,248 shares of the company’s stock valued at $8,459,000 after buying an additional 67,248 shares during the period. Capital Research Global Investors grew its stake in shares of CONMED by 11.8% in the 4th quarter. Capital Research Global Investors now owns 2,757,108 shares of the company’s stock valued at $301,931,000 after buying an additional 289,996 shares during the period. Walleye Capital LLC purchased a new stake in shares of CONMED in the 3rd quarter valued at approximately $5,691,000. Finally, Victory Capital Management Inc. grew its stake in shares of CONMED by 24.9% in the 4th quarter. Victory Capital Management Inc. now owns 9,218 shares of the company’s stock valued at $1,009,000 after buying an additional 1,837 shares during the period.

CONMED Trading Down 2.1 %

Shares of CONMED stock opened at $71.11 on Tuesday. The firm has a 50-day simple moving average of $73.36 and a two-hundred day simple moving average of $86.83. The company has a market cap of $2.19 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $138.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18.

CONMED (NYSE:CNMDGet Free Report) last issued its quarterly earnings data 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 business had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.78%. As a group, equities analysts predict that CONMED will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 1.13%. CONMED’s dividend payout ratio is presently 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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Analyst Recommendations for CONMED (NYSE:CNMD)

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