CONMED (NYSE:CNMD) Stock Price Up 7.7% – Still a Buy?

CONMED Corporation (NYSE:CNMD) traded up 7.7% during mid-day trading on Monday . The stock traded as high as $49.90 and last traded at $49.86. 36,454 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 557,390 shares. The stock had previously closed at $46.30.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CNMD shares. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price (up from $39.00) on shares of CONMED in a research note on Thursday. Bank of America reissued an “underperform” rating and set a $40.00 price target on shares of CONMED in a research note on Monday, June 29th. Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Monday, July 13th. JPMorgan Chase & Co. cut their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $41.40.

CONMED Stock Up 11.5%

The firm has a market capitalization of $1.55 billion, a PE ratio of 27.89, a PEG ratio of 2.11 and a beta of 0.93. The company has a fifty day simple moving average of $37.27 and a two-hundred day simple moving average of $38.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.69 and a current ratio of 1.48.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts forecast that CONMED Corporation will post 4.54 EPS for the current fiscal year.

Hedge Funds Weigh In On CONMED

Hedge funds and other institutional investors have recently modified their holdings of the business. Kelleher Financial Advisors purchased a new position in CONMED during the third quarter valued at approximately $28,000. Kestra Advisory Services LLC purchased a new stake in shares of CONMED during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after buying an additional 581 shares in the last quarter. Quarry LP grew its position in shares of CONMED by 244.8% in the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of CONMED by 48.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock worth $42,000 after buying an additional 341 shares during the last quarter.

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.