CONMED (NYSE:CNMD) Sets New 12-Month Low – What’s Next?

CONMED Corporation (NYSE:CNMD)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $41.52 and last traded at $41.7730, with a volume of 88173 shares trading hands. The stock had previously closed at $43.27.

Analysts Set New Price Targets

CNMD has been the topic of a number of recent research reports. Piper Sandler cut their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $54.00.

CONMED Price Performance

The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The business’s 50-day simple moving average is $47.17 and its two-hundred day simple moving average is $51.68. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.59 and a beta of 1.15.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The company had revenue of $337.93 million for the quarter, compared to analyst estimates of $334.76 million. During the same period in the prior year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, research analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling

In other CONMED news, Director Charles Farkas sold 2,000 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the completion of the sale, the director directly owned 14,859 shares in the company, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On CONMED

A number of large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas bought a new stake in shares of CONMED during the first quarter worth about $273,000. Envestnet Asset Management Inc. increased its holdings in CONMED by 6.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,750 shares of the company’s stock worth $9,647,000 after purchasing an additional 10,040 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of CONMED in the first quarter worth approximately $633,000. Victory Capital Management Inc. raised its stake in shares of CONMED by 5.4% in the first quarter. Victory Capital Management Inc. now owns 15,799 shares of the company’s stock worth $954,000 after purchasing an additional 815 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of CONMED in the first quarter valued at approximately $320,000.

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.