CONMED Co. (NYSE:CNMD) Receives $102.50 Consensus Target Price from Brokerages

CONMED Co. (NYSE:CNMD) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $102.50.

Several equities research analysts recently issued reports on CNMD shares. JPMorgan Chase & Co. cut their target price on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $107.00 price objective on shares of CONMED in a research report on Monday, May 6th. Wells Fargo & Company cut their price objective on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Finally, Piper Sandler cut their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th.

Insider Transactions at CONMED

In other CONMED news, COO Pat Beyer bought 3,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $68.30 per share, with a total value of $204,900.00. Following the completion of the acquisition, the chief operating officer now owns 10,807 shares of the company’s stock, valued at $738,118.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Martha Goldberg Aronson acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $70.98 per share, with a total value of $141,960.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $141,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Pat Beyer acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $68.30 per share, for a total transaction of $204,900.00. Following the completion of the purchase, the chief operating officer now directly owns 10,807 shares of the company’s stock, valued at $738,118.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 6,442 shares of company stock valued at $446,733. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of CONMED

A number of hedge funds have recently added to or reduced their stakes in the stock. Olympiad Research LP boosted its position in CONMED by 5.9% in the fourth quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock valued at $264,000 after buying an additional 134 shares in the last quarter. Franklin Resources Inc. boosted its position in CONMED by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock valued at $1,639,000 after buying an additional 140 shares in the last quarter. QRG Capital Management Inc. boosted its position in CONMED by 2.7% in the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock valued at $646,000 after buying an additional 154 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in CONMED by 4.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,095 shares of the company’s stock valued at $448,000 after buying an additional 169 shares in the last quarter. Finally, Hilltop National Bank boosted its position in CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares in the last quarter.

CONMED Trading Up 1.8 %

Shares of NYSE:CNMD opened at $65.23 on Friday. CONMED has a 52-week low of $61.05 and a 52-week high of $137.86. The company has a market capitalization of $2.01 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42. The company has a 50-day simple moving average of $71.54 and a 200 day simple moving average of $81.47. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 2.18.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.78%. The business had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. Sell-side analysts forecast that CONMED will post 4.3 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. CONMED’s dividend payout ratio is presently 30.65%.

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.