CONMED (NYSE:CNMD) PT Lowered to $77.00 at Wells Fargo & Company

CONMED (NYSE:CNMD) had its price target reduced by Wells Fargo & Company from $98.00 to $77.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on CONMED from $135.00 to $115.00 and set an overweight rating for the company in a research report on Thursday, February 1st. Needham & Company LLC lowered their price target on CONMED from $129.00 to $107.00 and set a buy rating for the company in a report on Thursday. Finally, Piper Sandler dropped their price target on CONMED from $100.00 to $95.00 and set an overweight rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $107.86.

CONMED Stock Performance

CNMD stock opened at $65.78 on Thursday. CONMED has a one year low of $61.05 and a one year high of $138.47. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.60 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. The firm has a 50-day simple moving average of $78.06 and a two-hundred day simple moving average of $93.39.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.99%. On average, equities analysts forecast that CONMED will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.22%. CONMED’s payout ratio is presently 30.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of CONMED during the fourth quarter worth $40,000. Principal Securities Inc. acquired a new stake in CONMED during the 4th quarter worth about $46,000. Headlands Technologies LLC purchased a new position in shares of CONMED during the 3rd quarter valued at about $64,000. AdvisorNet Financial Inc lifted its holdings in shares of CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock valued at $144,000 after buying an additional 745 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of CONMED by 44.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock worth $179,000 after buying an additional 500 shares during 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.