CONMED Corporation (NYSE:CNMD) Receives $52.83 Average PT from Analysts

CONMED Corporation (NYSE:CNMD) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $52.8333.

A number of equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Bank of America lowered their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th.

CONMED Trading Down 1.0%

NYSE:CNMD opened at $42.99 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01. The business’s 50-day simple moving average is $42.07 and its 200-day simple moving average is $45.00. CONMED has a fifty-two week low of $35.37 and a fifty-two week high of $64.87. The stock has a market capitalization of $1.33 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 1.91 and a beta of 0.91.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The firm had revenue of $373.20 million for the quarter, compared to the consensus estimate of $366.88 million. During the same period last year, the company posted $1.34 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

Institutional Trading of CONMED

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in shares of CONMED by 19.9% in the 1st quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock valued at $857,000 after buying an additional 2,357 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CONMED by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock worth $1,108,000 after acquiring an additional 800 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CONMED by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock valued at $4,993,000 after acquiring an additional 4,565 shares during the last quarter. Intech Investment Management LLC grew its position in shares of CONMED by 34.6% in the 1st quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock valued at $1,359,000 after acquiring an additional 5,780 shares during the period. Finally, CWM LLC increased its stake in shares of CONMED by 352.0% during the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after purchasing an additional 616 shares during the last quarter.

CONMED Company Profile

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.