CONMED (NYSE:CNMD – Get Free Report) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.
Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Weiss Ratings raised CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a report on Monday, July 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 target price (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, CONMED has a consensus rating of “Reduce” and a consensus price target of $41.40.
Check Out Our Latest Analysis on CNMD
CONMED Price Performance
CONMED (NYSE:CNMD – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. CONMED’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, sell-side analysts forecast that CONMED will post 4.54 EPS for the current year.
Institutional Trading of CONMED
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of CONMED by 46.5% in the first quarter. Bessemer Group Inc. now owns 116,429 shares of the company’s stock worth $4,117,000 after acquiring an additional 36,940 shares during the period. Fifth Third Bancorp increased its stake in shares of CONMED by 497.4% in the 1st quarter. Fifth Third Bancorp now owns 70,623 shares of the company’s stock valued at $2,497,000 after purchasing an additional 58,801 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CONMED by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock valued at $49,250,000 after purchasing an additional 80,116 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CONMED by 39.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company’s stock worth $20,705,000 after purchasing an additional 166,301 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in CONMED by 217.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company’s stock worth $14,819,000 after purchasing an additional 287,150 shares during the period.
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.
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