Research Analysts’ Recent Ratings Updates for CONMED (CNMD)

CONMED (NYSE: CNMD) has recently received a number of price target changes and ratings updates:

  • 5/6/2024 – CONMED had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $107.00 price target on the stock.
  • 4/25/2024 – CONMED had its price target lowered by analysts at JPMorgan Chase & Co. from $115.00 to $75.00. They now have an “overweight” rating on the stock.
  • 4/25/2024 – CONMED had its price target lowered by analysts at Piper Sandler from $100.00 to $95.00. They now have an “overweight” rating on the stock.
  • 4/25/2024 – CONMED had its price target lowered by analysts at Wells Fargo & Company from $98.00 to $77.00. They now have an “equal weight” rating on the stock.
  • 4/25/2024 – CONMED had its price target lowered by analysts at Needham & Company LLC from $129.00 to $107.00. They now have a “buy” rating on the stock.

CONMED Trading Up 2.3 %

NYSE:CNMD opened at $72.79 on Tuesday. The company has a 50-day moving average price of $75.71 and a 200-day moving average price of $91.53. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 0.68 and a beta of 1.37. The company has a current ratio of 2.18, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $138.47.

CONMED (NYSE:CNMDGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. CONMED had a return on equity of 13.78% and a net margin of 6.53%. Equities analysts predict that CONMED Co. will post 4.3 EPS for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is 30.65%.

Insider Transactions at CONMED

In other news, Director Barbara J. Schwarzentraub bought 1,442 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $69.26 per share, with a total value of $99,872.92. Following the completion of the acquisition, the director now owns 1,442 shares of the company’s stock, valued at $99,872.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CONMED news, Director Barbara J. Schwarzentraub bought 1,442 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $69.26 per share, with a total value of $99,872.92. Following the transaction, the director now owns 1,442 shares in the company, valued at $99,872.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martha Goldberg Aronson purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $70.98 per share, for a total transaction of $141,960.00. Following the acquisition, the director now owns 2,000 shares in the company, valued at $141,960. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,442 shares of company stock valued at $446,733. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CONMED

Several institutional investors have recently made changes to their positions in CNMD. Arizona State Retirement System grew its holdings in CONMED by 1.4% during the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock valued at $878,000 after purchasing an additional 121 shares during the period. Olympiad Research LP increased its holdings in CONMED by 5.9% in the 4th quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock worth $264,000 after acquiring an additional 134 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in CONMED by 4.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock worth $312,000 after acquiring an additional 140 shares during the period. Franklin Resources Inc. lifted its holdings in CONMED by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock valued at $1,639,000 after purchasing an additional 140 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of CONMED by 2.7% in the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after purchasing an additional 154 shares during the period.

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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