Analysts Set CONMED Corporation (NYSE:CNMD) Price Target at $46.20

CONMED Corporation (NYSE:CNMD) has earned a consensus recommendation of “Reduce” from the seven analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $46.20.

CNMD has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Piper Sandler downgraded 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 research note on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of CONMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd.

Institutional Investors Weigh In On CONMED

A number of institutional investors have recently bought and sold shares of CNMD. Kestra Advisory Services LLC acquired a new stake in CONMED during the fourth quarter worth $26,000. Kelleher Financial Advisors acquired a new stake in CONMED during the third quarter worth $28,000. Aster Capital Management DIFC Ltd boosted its stake in CONMED by 409.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after buying an additional 581 shares in the last quarter. Quarry LP boosted its stake in CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares in the last quarter. Finally, Huntington National Bank boosted its stake 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 buying an additional 466 shares in the last quarter.

CONMED Trading Down 2.5%

Shares of CONMED stock opened at $35.44 on Tuesday. The company’s fifty day simple moving average is $37.04 and its 200-day simple moving average is $40.47. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 1.59 and a beta of 0.94. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. CONMED has a 1 year low of $33.21 and a 1 year high of $60.80.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. The business had revenue of $317.05 million for the quarter, compared to the consensus estimate of $310.64 million. CONMED had a net margin of 4.00% and a return on equity of 13.84%. CONMED’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. As a group, sell-side analysts expect that CONMED will post 4.38 EPS for the current year.

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.