Fintel stories that on April 27, 2023, Needham maintained protection of Conmed (NYSE:CNMD) with a Buy advice.
Analyst Price Forecast Suggests 11.17% Downside
As of April 24, 2023, the common one-year price target for Conmed is 113.86. The forecasts vary from a low of 96.96 to a excessive of $130.20. The common worth goal represents a lower of 11.17% from its newest reported closing worth of 128.18.
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The projected annual income for Conmed is 1,230MM, a rise of 11.96%. The projected annual non-GAAP EPS is 3.45.
Conmed Declares $0.20 Dividend
On February 27, 2023 the corporate declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of document as of March 15, 2023 acquired the cost on April 5, 2023. Previously, the corporate paid $0.20 per share.
At the present share worth of $128.18 / share, the stock’s dividend yield is 0.62%.
Looking again 5 years and taking a pattern each week, the common dividend yield has been 0.87%, the bottom has been 0.51%, and the very best has been 2.01%. The normal deviation of yields is 0.23 (n=236).
The present dividend yield is 1.06 normal deviations under the historic common.
Additionally, the corporate’s dividend payout ratio is -0.26. The payout ratio tells us how a lot of an organization’s earnings is paid out in dividends. A payout ratio of 1 (1.0) means 100% of the corporate’s earnings is paid in a dividend. A payout ratio higher than one means the corporate is dipping into financial savings as a way to preserve its dividend – not a wholesome state of affairs. Companies with few development prospects are anticipated to pay out most of their earnings in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good development prospects are anticipated to retain some earnings as a way to spend money on these development prospects, which interprets to a payout ratio of zero to 0.5.
The firm has not elevated its dividend within the final three years.
What is the Fund Sentiment?
There are 567 funds or institutions reporting positions in Conmed. This is a lower of 34 proprietor(s) or 5.66% within the final quarter. Average portfolio weight of all funds devoted to CNMD is 0.22%, a rise of three.05%. Total shares owned by establishments elevated within the final three months by 3.11% to 45,637K shares. The put/call ratio of CNMD is 2.33, indicating a bearish outlook.
What are Other Shareholders Doing?
Earnest Partners holds 2,402K shares representing 7.86% possession of the corporate. In it is prior submitting, the agency reported proudly owning 2,066K shares, representing a rise of 13.99%. The agency elevated its portfolio allocation in CNMD by 17.29% during the last quarter.
IJR – iShares Core S&P Small-Cap ETF holds 2,259K shares representing 7.39% possession of the corporate. In it is prior submitting, the agency reported proudly owning 2,226K shares, representing a rise of 1.43%. The agency elevated its portfolio allocation in CNMD by 2.05% during the last quarter.
Capital Research Global Investors holds 2,192K shares representing 7.17% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,739K shares, representing a rise of 20.66%. The agency elevated its portfolio allocation in CNMD by 28.19% during the last quarter.
SMCWX – SMALLCAP WORLD FUND INC holds 1,991K shares representing 6.52% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,488K shares, representing a rise of 25.26%. The agency elevated its portfolio allocation in CNMD by 38.26% during the last quarter.
Champlain Investment Partners holds 1,276K shares representing 4.18% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,318K shares, representing a lower of three.32%. The agency decreased its portfolio allocation in CNMD by 99.90% during the last quarter.
Conmed Background Information
(This description is supplied by the corporate.)
CONMED is a medical know-how firm that gives surgical gadgets and gear for minimally invasive procedures. The Company’s merchandise are utilized by surgeons and physicians in a wide range of specialties, together with orthopedics, common surgical procedure, gynecology, neurosurgery, thoracic surgical procedure, and gastroenterology.
See all Conmed regulatory filings.
This story initially appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.