CONMED Co. (NYSE:CNMD) Given Average Recommendation of “Moderate Buy” by Brokerages

CONMED Co. (NYSE:CNMD) has earned a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $79.80.

A number of research analysts have commented on CNMD shares. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

CONMED Price Performance

Shares of CONMED stock opened at $75.96 on Tuesday. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $69.44 and its two-hundred day moving average price is $70.51. The stock has a market cap of $2.35 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.95 and a beta of 1.45.

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

Institutional Investors Weigh In On CONMED

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in CONMED by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock worth $49,879,000 after acquiring an additional 8,274 shares during the period. M&T Bank Corp grew its position in shares of CONMED by 18.3% in the third quarter. M&T Bank Corp now owns 19,070 shares of the company’s stock valued at $1,371,000 after purchasing an additional 2,956 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of CONMED by 6.6% in the third quarter. Public Employees Retirement System of Ohio now owns 50,760 shares of the company’s stock worth $3,651,000 after purchasing an additional 3,155 shares during the period. Stifel Financial Corp lifted its position in shares of CONMED by 13.8% during the 3rd quarter. Stifel Financial Corp now owns 30,675 shares of the company’s stock worth $2,206,000 after purchasing an additional 3,712 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after purchasing an additional 275 shares during the period.

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.