CONMED (NYSE:CNMD) Price Target Lowered to $95.00 at Piper Sandler

CONMED (NYSE:CNMD) had its price target cut by stock analysts at Piper Sandler from $100.00 to $95.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 35.96% from the company’s current price.

Several other research firms have also recently commented on CNMD. Wells Fargo & Company decreased their price target on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Needham & Company LLC lowered their target price on shares of CONMED from $129.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $116.57.

CONMED Stock Down 2.0 %

NYSE CNMD opened at $69.88 on Thursday. The company has a market capitalization of $2.15 billion, a P/E ratio of 34.25, a PEG ratio of 0.65 and a beta of 1.33. CONMED has a 12 month low of $69.78 and a 12 month high of $138.47. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. The company’s 50 day simple moving average is $78.80 and its 200 day simple moving average is $93.89.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $312.27 million during the quarter, compared to analyst estimates of $307.06 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. Equities research analysts expect that CONMED will post 4.34 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Several institutional investors have recently bought and sold shares of CNMD. Arizona State Retirement System grew its stake in CONMED by 1.4% during the third quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after buying an additional 121 shares during the last quarter. Olympiad Research LP increased its holdings in shares of CONMED by 5.9% in the fourth quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock valued at $264,000 after purchasing an additional 134 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in CONMED by 4.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock worth $312,000 after purchasing an additional 140 shares during the last quarter. Franklin Resources Inc. boosted its position in CONMED by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock valued at $1,639,000 after buying an additional 140 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of CONMED by 2.7% during the fourth quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after acquiring an additional 154 shares during the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.