CONMED Corporation (NYSE:CNMD) Receives $52.83 Average PT from Analysts

Shares of CONMED Corporation (NYSE:CNMD) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $52.8333.

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, Piper Sandler dropped their price objective on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tributary Capital Management LLC acquired a new stake in shares of CONMED in the third quarter valued at $19,549,000. Keeler Thomas Management LLC purchased a new position in CONMED during the 2nd quarter worth $1,081,000. Dynamic Technology Lab Private Ltd purchased a new position in CONMED during the 2nd quarter worth $659,000. SG Americas Securities LLC raised its stake in shares of CONMED by 3,041.3% during the 3rd quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock worth $3,005,000 after buying an additional 61,860 shares in the last quarter. Finally, Aurora Investment Counsel lifted its stake in shares of CONMED by 39.3% in the second quarter. Aurora Investment Counsel now owns 24,580 shares of the company’s stock valued at $1,280,000 after purchasing an additional 6,930 shares during the period.

CONMED Trading Up 2.2%

Shares of CNMD opened at $41.56 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.10 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $40.99 and a two-hundred day simple moving average of $46.04. The stock has a market capitalization of $1.29 billion, a P/E ratio of 27.52, a PEG ratio of 1.82 and a beta of 0.97. CONMED has a twelve month low of $35.37 and a twelve month high of $68.46.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.36%. The business had revenue of $373.20 million for the quarter, compared to the consensus estimate of $366.88 million. During the same period in the previous year, the firm earned $1.34 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts anticipate that CONMED will post 4.35 EPS for the current year.

About CONMED

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.