CONMED (NYSE:CNMD) PT Lowered to $75.00

CONMED (NYSE:CNMD) had its price objective lowered by JPMorgan Chase & Co. from $115.00 to $75.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

CNMD has been the topic of a number of other research reports. Needham & Company LLC dropped their price target on CONMED from $129.00 to $107.00 and set a buy rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price target on CONMED from $98.00 to $77.00 and set an equal weight rating on the stock in a research note 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $107.86.

CONMED Trading Up 6.3 %

CNMD opened at $65.78 on Thursday. CONMED has a one year low of $61.05 and a one year high of $138.47. The company has a market cap of $2.03 billion, a P/E 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 business’s 50-day simple moving average is $78.06 and its 200-day simple moving average is $93.36.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. CONMED had a return on equity of 13.99% and a net margin of 6.53%. The business had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. As a group, equities research analysts expect that CONMED will post 4.3 EPS for the current fiscal year.

CONMED Dividend Announcement

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

Institutional Trading of CONMED

A number of hedge funds have recently added to or reduced their stakes in the stock. Oak Family Advisors LLC lifted its position in CONMED by 21.4% during the 1st quarter. Oak Family Advisors LLC now owns 7,951 shares of the company’s stock worth $637,000 after acquiring an additional 1,401 shares during the period. Fifth Third Bancorp lifted its position in CONMED by 3.9% during the 1st quarter. Fifth Third Bancorp now owns 18,051 shares of the company’s stock worth $1,446,000 after acquiring an additional 672 shares during the period. Raymond James & Associates lifted its position in CONMED by 5.3% during the 1st quarter. Raymond James & Associates now owns 84,635 shares of the company’s stock worth $6,778,000 after acquiring an additional 4,231 shares during the period. AMI Asset Management Corp lifted its position in CONMED by 31.1% during the 1st quarter. AMI Asset Management Corp now owns 55,728 shares of the company’s stock worth $4,463,000 after acquiring an additional 13,204 shares during the period. Finally, Diversified Trust Co lifted its holdings in shares of CONMED by 69.3% in the 1st quarter. Diversified Trust Co now owns 10,991 shares of the company’s stock valued at $880,000 after buying an additional 4,500 shares during the period.

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.