BidaskClub downgraded shares of CONMED Corporation (NASDAQ:CNMD) from a sell rating to a strong sell rating in a research note published on Saturday morning.
Several other brokerages also recently commented on CNMD. Zacks Investment Research downgraded CONMED Corporation from a hold rating to a sell rating in a research report on Tuesday, June 27th. Needham & Company LLC boosted their price objective on CONMED Corporation from $54.00 to $57.00 and gave the company a buy rating in a research report on Thursday, July 27th. TheStreet upgraded CONMED Corporation from a c+ rating to a b- rating in a research report on Thursday, August 3rd. Finally, Ladenburg Thalmann Financial Services downgraded CONMED Corporation from a buy rating to a neutral rating and lowered their price objective for the company from $50.00 to $48.00 in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $49.33.
CONMED Corporation (NASDAQ CNMD) opened at 49.62 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of 88.77 and a beta of 0.67. The firm has a 50-day moving average price of $50.81 and a 200 day moving average price of $47.03. CONMED Corporation has a 52-week low of $37.60 and a 52-week high of $52.82.
CONMED Corporation (NASDAQ:CNMD) last announced its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The business had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. During the same period in the previous year, the business earned $0.47 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that CONMED Corporation will post $1.87 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “BidaskClub Lowers CONMED Corporation (NASDAQ:CNMD) to Strong Sell” was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/08/08/bidaskclub-lowers-conmed-corporation-nasdaqcnmd-to-strong-sell.html.
In other news, EVP Daniel Jonas sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $51.22, for a total transaction of $153,660.00. Following the transaction, the executive vice president now owns 14,455 shares of the company’s stock, valued at $740,385.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dirk Kuyper sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total value of $52,240.00. Following the transaction, the director now directly owns 10,739 shares in the company, valued at approximately $561,005.36. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new position in CONMED Corporation during the first quarter worth approximately $106,000. SG Americas Securities LLC acquired a new position in CONMED Corporation during the second quarter worth approximately $111,000. State of Alaska Department of Revenue boosted its position in CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock worth $121,000 after buying an additional 50 shares in the last quarter. Karp Capital Management Corp acquired a new position in CONMED Corporation during the first quarter worth approximately $202,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in CONMED Corporation during the first quarter worth approximately $203,000. 99.75% of the stock is currently owned by hedge funds and other institutional investors.
CONMED Corporation Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
Receive News & Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related companies with MarketBeat.com's FREE daily email newsletter.