CONMED (NYSE:CNMD) Trading 7.7% Higher – Here’s What Happened

CONMED Corporation (NYSE:CNMD)’s share price traded up 7.7% during mid-day trading on Monday . The stock traded as high as $49.90 and last traded at $49.86. Approximately 36,454 shares were traded 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

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research report on Monday, July 13th. JPMorgan Chase & Co. dropped their price objective on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Zacks Research lowered shares of CONMED from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, CONMED has an average rating of “Reduce” and a consensus price target of $41.40.

CONMED Stock Performance

The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.88. The stock’s 50-day simple moving average is $37.85 and its 200 day simple moving average is $38.59.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. The company had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts expect that CONMED Corporation will post 4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CONMED

Institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new stake in shares of CONMED during the fourth quarter worth $26,000. Kelleher Financial Advisors bought a new position in shares of CONMED in the third quarter valued at about $28,000. Aster Capital Management DIFC Ltd raised its holdings in shares of CONMED by 409.2% in the fourth 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 during the last quarter. Versant Capital Management Inc lifted its position in CONMED by 210.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock worth $37,000 after buying an additional 763 shares in the last quarter. Finally, Quarry LP lifted its position in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares in 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.