CONMED (NYSE:CNMD) Given New $70.00 Price Target at Wells Fargo & Company

CONMED (NYSE:CNMD) had its target price decreased by Wells Fargo & Company from $74.00 to $70.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC dropped their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $70.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Price Performance

CNMD opened at $67.43 on Thursday. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $88.60. The firm has a 50-day moving average of $70.53 and a 200 day moving average of $70.20. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The firm has a market cap of $2.08 billion, a P/E ratio of 16.02, a PEG ratio of 1.04 and a beta of 1.46.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.23% and a return on equity of 13.84%. On average, research analysts expect that CONMED will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.19%. CONMED’s dividend payout ratio is currently 19.00%.

Institutional Trading of CONMED

Several institutional investors and hedge funds have recently bought and sold shares of CNMD. GAMMA Investing LLC grew its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares in the last quarter. CWM LLC boosted its stake in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares during the period. Pacer Advisors Inc. grew its position in CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after acquiring an additional 322 shares during the last quarter. Finally, nVerses Capital LLC raised its holdings in shares of CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares in 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.