CONMED Corporation (NYSE:CNMD – Get Free Report) has earned an average rating of “Reduce” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $41.40.
A number of research firms have recently weighed in on CNMD. Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. Wells Fargo & Company raised their target price on shares of CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. BMO Capital Markets began coverage on shares of CONMED in a research report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 target price on the stock. Wall Street Zen raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Finally, Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th.
Get Our Latest Analysis on CNMD
CONMED Stock Up 4.9%
Shares of NYSE CNMD opened at $47.14 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. CONMED has a 52 week low of $31.44 and a 52 week high of $53.66. The firm has a 50-day moving average price of $47.70 and a 200 day moving average price of $41.19. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63.
CONMED (NYSE:CNMD – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%. The business had revenue of $343.49 million during the quarter, compared to analysts’ expectations of $337.60 million. During the same quarter last year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Equities research analysts anticipate that CONMED will post 4.54 EPS for the current fiscal year.
Institutional Trading of CONMED
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of CONMED by 46.5% during the first quarter. Bessemer Group Inc. now owns 116,429 shares of the company’s stock valued at $4,117,000 after acquiring an additional 36,940 shares during the period. Bank of America Corp DE acquired a new position in shares of CONMED during the 2nd quarter valued at $43,904,000. Fifth Third Bancorp increased its position in shares of CONMED by 497.4% during 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 during the period. Bank of New York Mellon Corp bought a new position in CONMED during the second quarter valued at about $9,531,000. Finally, BlackRock Inc. bought a new position in CONMED during the second quarter valued at about $157,783,000.
About CONMED
CONMED Corporation (NYSE: CNMD) is a medical technology company that develops, manufactures and markets products used in minimally invasive surgical procedures. Its offerings support healthcare providers across a range of specialties, including general surgery, gastroenterology, pulmonology, gynecology, orthopedics and sports medicine.
The company’s products include advanced surgical devices and systems, electrosurgical equipment, smoke evacuation systems, endoscopic instruments, powered surgical tools, and orthopedic products used in arthroscopic and reconstructive procedures.
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