Piper Sandler Boosts CONMED (NASDAQ:CNMD) Price Target to $95.00
CONMED (NASDAQ:CNMD) had its price target raised by Piper Sandler from $90.00 to $95.00 in a report published on Wednesday, The Fly reports. The firm currently has an overweight rating on the medical technology company’s stock.
Several other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of CONMED from a b- rating to a c+ rating in a report on Monday, April 6th. Barclays reaffirmed a buy rating and set a $110.00 price objective on shares of CONMED in a research note on Tuesday, April 14th. Zacks Investment Research raised shares of CONMED from a strong sell rating to a hold rating and set a $57.00 price objective on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of CONMED from $136.00 to $76.00 and set an overweight rating on the stock in a research note on Thursday, April 23rd. Finally, Needham & Company LLC reaffirmed a hold rating on shares of CONMED in a research note on Thursday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. CONMED presently has a consensus rating of Hold and a consensus price target of $94.38.
NASDAQ:CNMD traded down $4.80 during midday trading on Wednesday, hitting $82.54. The company’s stock had a trading volume of 417,893 shares, compared to its average volume of 417,622. CONMED has a fifty-two week low of $37.66 and a fifty-two week high of $116.81. The firm’s 50 day moving average is $74.62 and its 200-day moving average is $79.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.48 and a quick ratio of 1.40. The firm has a market cap of $2.35 billion, a P/E ratio of 86.88, a P/E/G ratio of 2.18 and a beta of 0.56.
The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. CONMED’s dividend payout ratio is currently 30.30%.
In related news, EVP Wilfredo Ruiz-Caban sold 9,919 shares of CONMED stock in a transaction on Friday, June 5th. The shares were sold at an average price of $82.02, for a total value of $813,556.38. Following the sale, the executive vice president now owns 25,592 shares of the company’s stock, valued at approximately $2,099,055.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.38% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in CONMED by 0.8% in the 1st quarter. FMR LLC now owns 293,909 shares of the medical technology company’s stock valued at $24,447,000 after purchasing an additional 2,373 shares in the last quarter. First Trust Advisors LP lifted its holdings in CONMED by 8.3% in the 1st quarter. First Trust Advisors LP now owns 40,689 shares of the medical technology company’s stock valued at $3,385,000 after purchasing an additional 3,112 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in CONMED in the 1st quarter valued at $150,000. Renaissance Technologies LLC purchased a new position in CONMED in the 4th quarter valued at $5,176,000. Finally, Stifel Financial Corp purchased a new position in CONMED in the 4th quarter valued at $207,000.
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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