Brokerages Set CONMED Co. (NYSE:CNMD) Price Target at $77.20

Shares of CONMED Co. (NYSE:CNMD) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $77.20.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC dropped their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th.

Institutional Investors Weigh In On CONMED

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after acquiring an additional 351 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in CONMED in the 4th quarter valued at about $82,000. Pacer Advisors Inc. lifted its holdings in CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after acquiring an additional 485 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after acquiring an additional 322 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in CONMED in the 4th quarter valued at about $210,000.

CONMED Price Performance

Shares of NYSE CNMD opened at $58.92 on Thursday. CONMED has a 1-year low of $55.22 and a 1-year high of $81.22. The firm has a market capitalization of $1.82 billion, a PE ratio of 13.90, a P/E/G ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The business’s fifty day moving average price is $64.96 and its two-hundred day moving average price is $68.65.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, research analysts expect that CONMED will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

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.