CONMED (NYSE:CNMD) Sets New 52-Week Low at $70.34

CONMED Co. (NYSE:CNMD)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $70.34 and last traded at $70.40, with a volume of 311535 shares changing hands. The stock had previously closed at $71.31.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC reduced their target price on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a report 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 currently has an average rating of “Moderate Buy” and a consensus price target of $107.86.

CONMED Stock Performance

The firm has a market capitalization of $2.03 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 0.63 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 company’s fifty day moving average price is $78.06 and its two-hundred day moving average price is $93.44.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to analyst estimates of $307.06 million. CONMED had a net margin of 6.53% and a return on equity of 13.99%. As a group, equities analysts expect that CONMED Co. will post 4.34 earnings per share for the current year.

CONMED Dividend Announcement

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

Institutional Trading of CONMED

Several large investors have recently bought and sold shares of CNMD. GAMMA Investing LLC acquired a new stake in CONMED in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in CONMED in the fourth quarter valued at approximately $46,000. Headlands Technologies LLC acquired a new stake in CONMED in the third quarter valued at approximately $64,000. AdvisorNet Financial Inc boosted its stake in shares of CONMED by 70.6% during 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 last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of CONMED by 44.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock valued at $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.