CONMED (NYSE:CNMD) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of CONMED (NYSE:CNMD) from a strong sell rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

CNMD has been the subject of several other reports. Piper Sandler reissued a “neutral” rating and set a $45.00 price objective (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Bank of America reaffirmed an “underperform” rating and issued a $40.00 target price on shares of CONMED in a research report on Monday, June 29th. JPMorgan Chase & Co. reduced their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $41.40.

CONMED Trading Down 0.1%

Shares of CNMD stock opened at $49.52 on Tuesday. The firm has a market cap of $1.48 billion, a P/E ratio of 26.77, a PEG ratio of 2.26 and a beta of 0.88. CONMED has a 1-year low of $31.44 and a 1-year high of $56.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. The firm’s 50-day simple moving average is $39.61 and its 200-day simple moving average is $38.91.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The firm had revenue of $343.49 million during the quarter, compared to the consensus estimate of $337.60 million. During the same period in the previous year, the firm earned $1.15 earnings per share. CONMED’s revenue was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, equities analysts forecast that CONMED will post 4.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CONMED during the second quarter valued at about $716,000. Ieq Capital LLC purchased a new position in CONMED in the second quarter valued at about $362,000. Allworth Financial LP acquired a new stake in CONMED during the 2nd quarter valued at approximately $47,000. First National Bank of Omaha purchased a new stake in CONMED during the 2nd quarter worth approximately $281,000. Finally, BlackRock Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at approximately $157,783,000.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.