Analysts Set CONMED Co. (NYSE:CNMD) Price Target at $120.43

CONMED Co. (NYSE:CNMD) has received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $120.43.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. Piper Sandler decreased their price objective on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Needham & Company LLC upped their target price on CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. decreased their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st.

Institutional Trading of CONMED

A number of hedge funds have recently made changes to their positions in the company. Oak Family Advisors LLC grew its stake in shares of CONMED by 21.4% in the first quarter. Oak Family Advisors LLC now owns 7,951 shares of the company’s stock worth $637,000 after purchasing an additional 1,401 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CONMED by 3.9% in the 1st quarter. Fifth Third Bancorp now owns 18,051 shares of the company’s stock valued at $1,446,000 after buying an additional 672 shares during the last quarter. Raymond James & Associates increased its stake in shares of CONMED by 5.3% in the first quarter. Raymond James & Associates now owns 84,635 shares of the company’s stock valued at $6,778,000 after buying an additional 4,231 shares during the period. AMI Asset Management Corp raised its position in shares of CONMED by 31.1% during the first quarter. AMI Asset Management Corp now owns 55,728 shares of the company’s stock worth $4,463,000 after acquiring an additional 13,204 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of CONMED by 69.3% in the first quarter. Diversified Trust Co now owns 10,991 shares of the company’s stock worth $880,000 after acquiring an additional 4,500 shares during the period.

CONMED Stock Performance

NYSE CNMD opened at $69.88 on Monday. CONMED has a 12-month low of $69.78 and a 12-month high of $138.47. The firm has a 50-day moving average price of $78.80 and a two-hundred day moving average price of $93.89. The company has a market capitalization of $2.15 billion, a P/E ratio of 34.25, a P/E/G ratio of 0.66 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The company had revenue of $327.05 million for the quarter, compared to analyst estimates of $332.94 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. Analysts anticipate that CONMED will post 4.34 earnings per share for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, March 14th. CONMED’s payout ratio is 39.22%.

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.