Somewhat Favorable News Coverage Somewhat Unlikely to Affect CONMED (CNMD) Share Price
Media headlines about CONMED (NASDAQ:CNMD) have been trending somewhat positive recently, Accern Sentiment reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. CONMED earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media coverage about the medical technology company an impact score of 46.9016341018668 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Shares of CONMED (NASDAQ CNMD) opened at $56.48 on Monday. CONMED has a 12 month low of $39.74 and a 12 month high of $56.51. The company has a market cap of $1,577.71, a P/E ratio of 100.86, a price-to-earnings-growth ratio of 3.23 and a beta of 0.66. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.84.
CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. CONMED had a net margin of 1.99% and a return on equity of 8.40%. The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $187.13 million. During the same quarter last year, the business earned $0.41 earnings per share. CONMED’s revenue was up 2.9% compared to the same quarter last year. equities research analysts forecast that CONMED will post 1.86 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded shares of CONMED from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $58.00 price target on shares of CONMED in a research note on Friday, November 17th. Piper Jaffray Companies restated a “hold” rating and issued a $46.00 price target on shares of CONMED in a research note on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of CONMED in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.00.
In other news, EVP Luke A. Pomilio sold 10,020 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares in the company, valued at $2,382,365.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the completion of the transaction, the executive vice president now owns 45,486 shares of the company’s stock, valued at $2,306,140.20. The disclosure for this sale can be found here. Insiders sold 51,812 shares of company stock worth $2,654,756 in the last 90 days. 2.62% of the stock is owned by company insiders.
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CONMED 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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