Analysts Set CONMED Corporation (NYSE:CNMD) PT at $41.40

CONMED Corporation (NYSE:CNMD) has received a consensus recommendation of “Reduce” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $41.40.

CNMD has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research note on Monday, July 13th. Wall Street Zen raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Bank of America reiterated an “underperform” rating and set a $40.00 price objective on shares of CONMED in a report on Monday, June 29th. Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 target price (up from $39.00) on shares of CONMED in a report on Thursday, July 30th.

Hedge Funds Weigh In On CONMED

A number of hedge funds have recently made changes to their positions in CNMD. Bessemer Group Inc. raised its holdings in shares of CONMED by 46.5% in the 1st quarter. Bessemer Group Inc. now owns 116,429 shares of the company’s stock worth $4,117,000 after purchasing an additional 36,940 shares during the period. Fifth Third Bancorp grew its holdings in shares of CONMED by 497.4% during the 1st quarter. Fifth Third Bancorp now owns 70,623 shares of the company’s stock worth $2,497,000 after purchasing an additional 58,801 shares during the period. BlackRock Inc. purchased a new stake in shares of CONMED during the 2nd quarter worth about $157,783,000. Bank of New York Mellon Corp acquired a new stake in CONMED during the 2nd quarter worth approximately $9,531,000. Finally, Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 80,116 shares in the last quarter.

CONMED Trading Up 0.3%

Shares of CONMED stock opened at $47.10 on Monday. CONMED has a fifty-two week low of $31.44 and a fifty-two week high of $53.66. The business’s fifty day moving average is $47.06 and its two-hundred day moving average is $40.17. 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 has a market cap of $1.41 billion, a PE ratio of 25.46, a P/E/G ratio of 2.14 and a beta of 0.90.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $343.49 million during the quarter, compared to the consensus estimate of $337.60 million. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts anticipate that CONMED will post 4.54 earnings per share for the current year.

About CONMED

CONMED Corporation is a medical technology company that develops, manufactures and sells devices and equipment used in surgical procedures. Its products are designed primarily for orthopedic, general surgery and gastroenterology applications, supporting hospitals, ambulatory surgery centers and other healthcare providers.

The company’s product portfolio includes arthroscopy systems and instruments, powered surgical tools, electrosurgical devices, smoke evacuation equipment, patient care products and endoscopic technologies.