CONMED (NYSE:CNMD) Reaches New 52-Week Low – Should You Sell?

Shares of CONMED Co. (NYSE:CNMD) reached a new 52-week low on Thursday . The company traded as low as $60.74 and last traded at $60.88, with a volume of 140959 shares changing hands. The stock had previously closed at $63.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNMD. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus upped their target price on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, CONMED has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Down 2.6 %

The stock’s fifty day moving average is $68.75 and its two-hundred day moving average is $69.83. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $1.90 billion, a PE ratio of 14.47, a P/E/G ratio of 1.88 and a beta of 1.46.

CONMED (NYSE:CNMD) last posted its quarterly earnings results 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 14.60%. As a group, analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio is currently 18.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC bought a new position in shares of CONMED during the 4th quarter valued at about $68,489,000. Fuller & Thaler Asset Management Inc. bought a new position in CONMED during the fourth quarter valued at approximately $59,046,000. Neuberger Berman Group LLC purchased a new position in shares of CONMED during the fourth quarter worth approximately $21,395,000. Raymond James Financial Inc. bought a new stake in shares of CONMED in the 4th quarter worth approximately $18,248,000. Finally, Fisher Asset Management LLC boosted its stake in shares of CONMED by 41.4% in the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after purchasing an additional 122,140 shares in 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.