CONMED (NYSE:CNMD) Stock Rating Upgraded by Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company lifted their target price on CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Bank of America cut their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Finally, Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.83.

CONMED Trading Down 3.1%

Shares of NYSE CNMD opened at $40.11 on Friday. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $42.09 and its two-hundred day moving average price is $44.75. CONMED has a 52-week low of $35.37 and a 52-week high of $64.87. The stock has a market capitalization of $1.24 billion, a P/E ratio of 26.56, a PEG ratio of 1.75 and a beta of 0.91.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The company had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. During the same period in the prior year, the company earned $1.34 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that CONMED will post 4.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CONMED

Several hedge funds and other institutional investors have recently made changes to their positions in CNMD. Kestra Advisory Services LLC bought a new position in CONMED in the 4th quarter worth approximately $26,000. Kelleher Financial Advisors bought a new stake in CONMED during the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd raised its stake in CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after acquiring an additional 581 shares in the last quarter. Quarry LP boosted 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 acquiring an additional 617 shares during the period. Finally, Huntington National Bank boosted its position in CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after acquiring an additional 466 shares during the period.

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.