CONMED (NYSE:CNMD) Raised to “Hold” at Zacks Research

CONMED (NYSE:CNMD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on CNMD. Wells Fargo & Company lifted their target price on CONMED from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Bank of America restated an “underperform” rating and set a $40.00 price target on shares of CONMED in a report on Monday, June 29th. BMO Capital Markets began coverage on CONMED in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. lowered their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $41.40.

CONMED Price Performance

Shares of CNMD opened at $49.52 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of 26.77, a PEG ratio of 2.26 and a beta of 0.88. CONMED has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average price is $39.61 and its 200 day moving average price is $38.91.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.11 by $0.27. The company had revenue of $343.49 million during the quarter, compared to analysts’ expectations of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, research analysts forecast that CONMED will post 4.54 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in CONMED during the 2nd quarter worth about $157,783,000. Vanguard Group Inc. increased its holdings in shares of CONMED by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,684,439 shares of the company’s stock valued at $149,588,000 after acquiring an additional 73,533 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CONMED by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock worth $49,250,000 after acquiring an additional 80,116 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of CONMED during the 3rd quarter worth about $47,026,000. Finally, Cooke & Bieler LP lifted its stake in CONMED by 23.2% during the fourth quarter. Cooke & Bieler LP now owns 867,817 shares of the company’s stock worth $35,233,000 after purchasing an additional 163,494 shares during the last quarter.

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.