StockNews.com Downgrades CONMED (NYSE:CNMD) to Hold

CONMED (NYSE:CNMD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on CNMD. Stifel Nicolaus lowered their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company cut their price objective on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Piper Sandler cut their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of CONMED in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.80.

CONMED Stock Up 3.2 %

Shares of CNMD stock opened at $70.40 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. CONMED has a twelve month low of $61.05 and a twelve month high of $117.27. The stock has a 50 day moving average of $69.52 and a 200 day moving average of $70.07. The stock has a market cap of $2.17 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.88 and a beta of 1.45.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 14.15% and a net margin of 10.23%. As a group, sell-side analysts expect that CONMED will post 4.03 EPS for the current year.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently modified their holdings of CNMD. 1620 Investment Advisors Inc. purchased a new stake in CONMED in the 2nd quarter worth approximately $39,000. Innealta Capital LLC acquired a new stake in CONMED during the 2nd quarter valued at $41,000. Hilltop National Bank lifted its stake in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after acquiring an additional 195 shares in the last quarter. CWM LLC boosted its stake in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after buying an additional 636 shares during the last quarter. Finally, nVerses Capital LLC grew its holdings in CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares in the last quarter.

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.