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

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in 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 note on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Stifel Nicolaus upped their target price on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company dropped their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Stock Down 0.6 %

The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.83 and a beta of 1.46. The business’s 50 day moving average price is $67.38 and its 200 day moving average price is $69.56. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

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

CONMED Dividend Announcement

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

Institutional Investors Weigh In On CONMED

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CONMED by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company’s stock worth $5,347,000 after purchasing an additional 11,059 shares during the period. Squarepoint Ops LLC purchased a new position in shares of CONMED during the 4th quarter valued at approximately $849,000. Silvercrest Asset Management Group LLC purchased a new position in shares of CONMED during the 4th quarter valued at approximately $68,489,000. ProShare Advisors LLC lifted its position in shares of CONMED by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 9,300 shares of the company’s stock valued at $636,000 after buying an additional 2,865 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of CONMED during the 4th quarter valued at approximately $222,000.

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.