Shares of CONMED Co. (NYSE:CNMD – Get Free Report) gapped down before the market opened on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $115.00 to $75.00. The stock had previously closed at $70.01, but opened at $63.37. JPMorgan Chase & Co. currently has an overweight rating on the stock. CONMED shares last traded at $64.35, with a volume of 469,350 shares changing hands.
Several other equities analysts also recently weighed in on the company. Wells Fargo & Company reduced their price target on CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler cut their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC decreased their target price on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and an average price target of $107.86.
Check Out Our Latest Report on CONMED
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CONMED Stock Performance
The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. The firm’s 50-day moving average price is $78.36 and its 200-day moving average price is $93.67. The stock has a market cap of $1.91 billion, a P/E ratio of 30.34, a PEG ratio of 0.65 and a beta of 1.33.
CONMED (NYSE:CNMD – Get Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. Sell-side analysts expect that CONMED Co. will post 4.34 earnings per share for the current fiscal year.
CONMED Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.29%. CONMED’s dividend payout ratio is currently 39.22%.
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.
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