CONMED (NYSE:CNMD) Reaches New 1-Year Low at $71.25

Shares of CONMED Co. (NYSE:CNMD) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $71.25 and last traded at $71.39, with a volume of 28322 shares. The stock had previously closed at $72.76.

Analyst Ratings Changes

CNMD has been the subject of a number of research reports. Piper Sandler lowered their target price on CONMED from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Wells Fargo & Company decreased their price objective on CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Needham & Company LLC raised their price objective on CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. decreased their price objective on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CONMED currently has a consensus rating of “Moderate Buy” and an average price target of $120.43.

CONMED Price Performance

The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 0.70 and a beta of 1.33. The company’s 50 day moving average is $80.18 and its 200-day moving average is $94.82. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.05). CONMED had a net margin of 5.18% and a return on equity of 13.69%. The firm had revenue of $327.05 million during the quarter, compared to analyst estimates of $332.94 million. Equities research analysts anticipate that CONMED Co. will post 4.34 earnings per share for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.12%. CONMED’s dividend payout ratio (DPR) is currently 39.22%.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in CONMED by 1.4% during the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after acquiring an additional 121 shares during the last quarter. Snowden Capital Advisors LLC lifted its position in CONMED by 5.5% during the first quarter. Snowden Capital Advisors LLC now owns 2,534 shares of the company’s stock worth $263,000 after acquiring an additional 133 shares during the last quarter. Olympiad Research LP lifted its position in CONMED by 5.9% during the fourth quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock worth $264,000 after acquiring an additional 134 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in CONMED by 4.7% during the third 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 during the last quarter. Finally, Franklin Resources Inc. lifted its position in CONMED by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after acquiring an additional 140 shares during the last quarter.

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.