On March 27, 2023,
Keybanc
upgraded
their outlook for Conmed (NYSE:CNMD) from Sector Weight to Overweight.
Analyst Price Forecast Suggests 17.95% Upside
As of March 27, 2023,
the average one-year price target for Conmed is $114.41.
The forecasts range from a low of $101.00 to a high of $128.10.
The average price target represents an increase of 17.95% from its latest reported closing price of $97.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Conmed
is $1,230MM, an increase of 17.65%.
The projected annual non-GAAP EPS
is $3.45.
Conmed Declares $0.20 Dividend
On February 27, 2023 the company declared a regular
quarterly dividend of $0.20 per share ($0.80 annualized).
Shareholders of record as of March 15, 2023
will receive the payment on April 5, 2023.
Previously, the company paid $0.20 per share.
At the current share price of $97.00 / share,
the stock’s dividend yield is 0.82%.
Looking back five years and taking a sample every week, the average dividend yield has been
0.88%,
the lowest has been 0.51%,
and the highest has been 2.01%.
The standard deviation of yields is 0.23 (n=236).
The current dividend yield is
0.22 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is -0.30.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Large Shareholders Doing?
Earnest Partners
holds 2,402K shares
representing 7.88% ownership of the company.
In it’s prior filing, the firm reported owning 2,066K shares, representing
an increase
of 13.99%.
The firm
increased
its portfolio allocation in CNMD by 17.29% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF
holds 2,259K shares
representing 7.41% ownership of the company.
In it’s prior filing, the firm reported owning 2,226K shares, representing
an increase
of 1.43%.
The firm
increased
its portfolio allocation in CNMD by 2.05% over the last quarter.
Capital Research Global Investors
holds 2,192K shares
representing 7.19% ownership of the company.
In it’s prior filing, the firm reported owning 1,739K shares, representing
an increase
of 20.66%.
The firm
increased
its portfolio allocation in CNMD by 28.19% over the last quarter.
SMCWX – SMALLCAP WORLD FUND INC
holds 1,991K shares
representing 6.53% ownership of the company.
In it’s prior filing, the firm reported owning 1,488K shares, representing
an increase
of 25.26%.
The firm
increased
its portfolio allocation in CNMD by 38.26% over the last quarter.
Champlain Investment Partners
holds 1,276K shares
representing 4.18% ownership of the company.
In it’s prior filing, the firm reported owning 1,318K shares, representing
a decrease
of 3.32%.
The firm
decreased
its portfolio allocation in CNMD by 99.90% over the last quarter.
What is the Fund Sentiment?
There are 577 funds or institutions reporting positions in Conmed.
This is a decrease
of
38
owner(s) or 6.18% in the last quarter.
Average portfolio weight of all funds dedicated to CNMD is 0.22%,
a decrease
of 0.76%.
Total shares owned by institutions increased
in the last three months by 4.16% to 45,433K shares.
The put/call ratio of CNMD is 3.68, indicating a
bearish
outlook.
Conmed Background Information
(This description is provided by the company.)
CONMED is a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
