CONMED Corporation (NYSE:CNMD) Given Consensus Recommendation of “Hold” by Brokerages

CONMED Corporation (NYSE:CNMD) has received a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $59.80.

A number of analysts have commented on the company. Piper Sandler lowered their price target on CONMED from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research report on Saturday, September 27th. Finally, Needham & Company LLC lowered CONMED from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research note on Thursday, June 12th.

Insider Buying and Selling at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the completion of the transaction, the director owned 14,859 shares in the company, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On CONMED

Several institutional investors and hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. increased its stake in shares of CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of CONMED by 36.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CONMED by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 734,529 shares of the company’s stock valued at $38,259,000 after purchasing an additional 19,944 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of CONMED by 5.8% in the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock valued at $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in CONMED by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 634,677 shares of the company’s stock worth $38,328,000 after buying an additional 9,619 shares in the last quarter.

CONMED Stock Performance

Shares of CNMD opened at $48.12 on Monday. The stock has a 50-day moving average of $51.93 and a two-hundred day moving average of $53.53. CONMED has a one year low of $45.06 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The stock has a market cap of $1.49 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.64 and a beta of 1.14.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company had revenue of $342.35 million during the quarter, compared to analysts’ expectations of $338.42 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, research analysts predict that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. CONMED’s dividend payout ratio (DPR) is presently 22.66%.

About CONMED

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.