Piper Sandler Issues Pessimistic Forecast for CONMED (NYSE:CNMD) Stock Price

CONMED (NYSE:CNMD) had its price target dropped by investment analysts at Piper Sandler from $68.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 25.20% from the stock’s current price.

A number of other research firms also recently commented on CNMD. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. Wells Fargo & Company dropped their target price on CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.00.

CONMED Stock Down 0.6%

NYSE CNMD traded down $0.28 during trading on Thursday, hitting $43.93. The stock had a trading volume of 568,000 shares, compared to its average volume of 458,717. CONMED has a 12 month low of $41.62 and a 12 month high of $78.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. The company’s 50-day moving average price is $48.23 and its two-hundred day moving average price is $51.91. The company has a market capitalization of $1.36 billion, a PE ratio of 12.44, a P/E/G ratio of 1.59 and a beta of 1.15.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The company had revenue of $337.93 million for the quarter, compared to the consensus estimate of $334.76 million. During the same period last year, the company earned $1.05 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, sell-side analysts forecast that CONMED will post 4.35 EPS for the current year.

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the transaction, the director directly owned 14,859 shares of the company’s stock, valued at $795,253.68. This trade represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CONMED

A number of institutional investors have recently made changes to their positions in the stock. Tributary Capital Management LLC bought a new stake in shares of CONMED during the 3rd quarter worth $19,549,000. Westwood Holdings Group Inc. raised its position in CONMED by 41.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock valued at $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Raymond James Financial Inc. lifted its stake in CONMED by 46.5% during the first quarter. Raymond James Financial Inc. now owns 390,675 shares of the company’s stock worth $23,592,000 after purchasing an additional 124,050 shares during the last quarter. Finally, Pacific Capital Partners Ltd purchased a new position in shares of CONMED in the 1st quarter worth about $5,504,000.

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.