CONMED Co. (NYSE:CNMD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CONMED Co. (NYSE:CNMD) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $79.80.

Several research firms have recently weighed in on CNMD. Stifel Nicolaus reduced their price target on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Piper Sandler reduced their target price on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday.

Institutional Investors Weigh In On CONMED

Several large investors have recently modified their holdings of CNMD. Arizona State Retirement System increased its holdings in CONMED by 2.0% in the second quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock worth $597,000 after purchasing an additional 168 shares in the last quarter. Hilltop National Bank increased its stake in shares of CONMED by 31.0% in the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after acquiring an additional 195 shares in the last quarter. Diversified Trust Co lifted its position in shares of CONMED by 2.4% during the 2nd quarter. Diversified Trust Co now owns 11,250 shares of the company’s stock valued at $780,000 after acquiring an additional 259 shares during the period. QRG Capital Management Inc. boosted its stake in CONMED by 5.0% during the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after acquiring an additional 280 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in CONMED by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $1,074,000 after purchasing an additional 300 shares during the period.

CONMED Price Performance

CNMD stock opened at $74.78 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.91 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The company has a 50 day simple moving average of $69.61 and a 200 day simple moving average of $70.10. CONMED has a 1 year low of $61.05 and a 1 year high of $117.27.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The company had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. Research analysts anticipate that CONMED will post 4.03 EPS for the current fiscal year.

About CONMED

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.