BidaskClub downgraded shares of CONMED Corporation (NASDAQ:CNMD) from a sell rating to a strong sell rating in a research report report published on Sunday morning.

Other research analysts have also issued research reports about the stock. TheStreet raised shares of CONMED Corporation from a c+ rating to a b- rating in a research report on Thursday, August 3rd. Needham & Company LLC boosted their target price on shares of CONMED Corporation from $48.00 to $54.00 and gave the stock a buy rating in a research report on Thursday, April 27th. Zacks Investment Research raised shares of CONMED Corporation from a sell rating to a hold rating in a research report on Friday, April 28th. Finally, Ladenburg Thalmann Financial Services lowered shares of CONMED Corporation from a buy rating to a neutral rating and cut their target price for the stock from $50.00 to $48.00 in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $49.33.

Shares of CONMED Corporation (CNMD) opened at 48.60 on Friday. The stock’s 50 day moving average price is $50.18 and its 200 day moving average price is $47.50. CONMED Corporation has a 52 week low of $37.60 and a 52 week high of $52.82. The firm has a market capitalization of $1.36 billion, a P/E ratio of 86.94 and a beta of 0.67.

CONMED Corporation (NASDAQ:CNMD) last released its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $197.20 million during the quarter, compared to analyst estimates of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. On average, analysts predict that CONMED Corporation will post $1.87 EPS for the current fiscal year.

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In related news, Director Dirk Kuyper sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the sale, the director now owns 10,739 shares of the company’s stock, valued at $561,005.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jo Ann Golden sold 3,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 19,782 shares in the company, valued at approximately $989,100. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock worth $121,000 after buying an additional 50 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in CONMED Corporation by 3.3% in the second quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock worth $103,000 after buying an additional 64 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in CONMED Corporation by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the medical technology company’s stock worth $449,000 after buying an additional 100 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in CONMED Corporation by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 35,232 shares of the medical technology company’s stock worth $1,795,000 after buying an additional 107 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in CONMED Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 18,111 shares of the medical technology company’s stock worth $923,000 after buying an additional 173 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

CONMED Corporation Company Profile

CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.

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