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

Shares of CONMED Co. (NYSE:CNMD) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $77.20.

Several research firms have recently commented on CNMD. Stifel Nicolaus lifted their target price on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC lowered their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of CONMED during the 4th quarter worth $82,000. Pacer Advisors Inc. grew its position in shares of CONMED by 41.4% during 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 period. Smartleaf Asset Management LLC lifted its position in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in CONMED in the 4th quarter worth approximately $210,000.

CONMED Price Performance

NYSE:CNMD opened at $56.82 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The company has a 50-day moving average of $61.08 and a 200-day moving average of $66.79. CONMED has a 52 week low of $51.01 and a 52 week high of $80.54. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, equities research analysts anticipate that CONMED will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. CONMED’s payout ratio is currently 18.87%.

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.