CONMED (NYSE:CNMD) Price Target Cut to $95.00 by Analysts at Piper Sandler

CONMED (NYSE:CNMD) had its target price reduced by Piper Sandler from $100.00 to $95.00 in a research report report published on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on CNMD. Needham & Company LLC cut their target price on shares of CONMED from $129.00 to $107.00 and set a buy rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on shares of CONMED from $135.00 to $115.00 and set an overweight rating for the company in a research report on Thursday, February 1st. Finally, Wells Fargo & Company cut their price objective on shares of CONMED from $107.00 to $98.00 and set an equal weight rating for the company in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $107.86.

CONMED Stock Up 5.0 %

NYSE CNMD traded up $3.08 during mid-day trading on Thursday, reaching $64.98. The stock had a trading volume of 340,038 shares, compared to its average volume of 581,891. CONMED has a 1 year low of $61.05 and a 1 year high of $138.47. The stock has a market cap of $2.00 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.63 and a beta of 1.33. The company has a fifty day moving average price of $78.36 and a 200 day moving average price of $93.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.99%. The business had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. On average, research analysts expect that CONMED will post 4.34 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, March 14th. CONMED’s payout ratio is currently 30.65%.

Institutional Trading of CONMED

Several hedge funds have recently bought and sold shares of CNMD. Arizona State Retirement System raised its position in shares of CONMED by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock valued at $878,000 after buying an additional 121 shares in the last quarter. Olympiad Research LP grew its stake 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. grew its stake in CONMED by 4.7% in 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 in the last quarter. Franklin Resources Inc. grew its stake in CONMED by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after acquiring an additional 140 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in CONMED by 2.7% in the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after acquiring an additional 154 shares in the last quarter.

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.