CONMED (NYSE:CNMD) Given New $70.00 Price Target at Wells Fargo & Company

CONMED (NYSE:CNMD) had its target price cut by Wells Fargo & Company from $74.00 to $70.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC lowered their target price on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $70.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, CONMED has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Trading Down 8.9 %

NYSE CNMD opened at $67.43 on Thursday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.46. CONMED has a twelve month low of $61.05 and a twelve month high of $88.60. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The business’s fifty day moving average is $70.53 and its 200 day moving average is $70.20.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, sell-side analysts expect that CONMED will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. CONMED’s dividend payout ratio (DPR) is presently 19.00%.

Institutional Trading of CONMED

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares during the last quarter. CWM LLC increased its holdings in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares in the last quarter. Pacer Advisors Inc. increased its holdings in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings in shares of CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after purchasing an additional 1,700 shares in the last quarter.

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.