CONMED (NYSE:CNMD) Stock Rating Upgraded by Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

A number of other research analysts have also recently issued reports on CNMD. Piper Sandler cut shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $39.00 in a report on Tuesday, March 17th. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. Wells Fargo & Company raised CONMED to a “hold” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $50.17.

CONMED Price Performance

Shares of NYSE CNMD opened at $39.47 on Tuesday. CONMED has a fifty-two week low of $33.21 and a fifty-two week high of $61.08. The company has a market cap of $1.19 billion, a PE ratio of 26.14, a P/E/G ratio of 1.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. The business has a 50-day simple moving average of $39.60 and a two-hundred day simple moving average of $41.73.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. The firm had revenue of $373.20 million during the quarter, compared to analyst estimates of $366.88 million. CONMED had a net margin of 3.42% and a return on equity of 14.23%. CONMED’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. As a group, equities analysts expect that CONMED will post 4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in CONMED in the fourth quarter valued at $26,000. Kelleher Financial Advisors purchased a new position in shares of CONMED during the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after buying an additional 581 shares during the period. Quarry LP boosted its stake in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares during the last quarter. Finally, Huntington National Bank grew its holdings in CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after acquiring an additional 466 shares during the period.

About CONMED

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.