CONMED (NYSE:CNMD) Sets New 1-Year Low – Time to Sell?

CONMED Co. (NYSE:CNMD) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $59.42 and last traded at $59.75, with a volume of 165605 shares changing hands. The stock had previously closed at $61.42.

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of research analyst reports. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and cut their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC cut their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Performance

The firm has a market capitalization of $1.83 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.46. The firm has a 50-day moving average price of $67.38 and a two-hundred day moving average price of $69.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. CONMED’s dividend payout ratio (DPR) is 18.87%.

Institutional Trading of CONMED

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CONMED by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company’s stock valued at $5,347,000 after acquiring an additional 11,059 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of CONMED in the fourth quarter valued at about $849,000. Silvercrest Asset Management Group LLC bought a new stake in shares of CONMED in the fourth quarter valued at about $68,489,000. ProShare Advisors LLC raised its holdings in shares of CONMED by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 9,300 shares of the company’s stock valued at $636,000 after acquiring an additional 2,865 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of CONMED in the fourth quarter valued at about $222,000.

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.