CONMED Corporation (NYSE:CNMD) Receives Average Rating of “Reduce” from Analysts

by · The Cerbat Gem

CONMED Corporation (NYSE:CNMD – Get Free Report) has been assigned an average rating of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $41.40.

A number of brokerages have recently weighed in on CNMD. Bank of America reissued an “underperform” rating and set a $40.00 price objective 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 set a “market perform” rating and a $36.00 price target for the company. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded CONMED from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday.

Check Out Our Latest Research Report on CONMED

Institutional Trading of CONMED

Hedge funds and other institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new stake in CONMED in the 2nd quarter worth approximately $207,000. Integrated Wealth Concepts LLC purchased a new stake in CONMED during the second quarter worth $41,000. Allworth Financial LP grew its position in CONMED by 1,376.5% during the second quarter. Allworth Financial LP now owns 1,447 shares of the company’s stock valued at $47,000 after buying an additional 1,349 shares during the period. Amundi grew its position in CONMED by 47.9% during the second quarter. Amundi now owns 9,170 shares of the company’s stock valued at $300,000 after buying an additional 2,969 shares during the period. Finally, HB Wealth Management LLC increased its holdings in CONMED by 11.5% in the second quarter. HB Wealth Management LLC now owns 18,527 shares of the company’s stock valued at $606,000 after buying an additional 1,907 shares in the last quarter.

CONMED Price Performance

Shares of CNMD stock opened at $45.42 on Monday. CONMED has a twelve month low of $31.44 and a twelve month high of $53.66. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $47.39 and a two-hundred day simple moving average of $40.21. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 2.10 and a beta of 0.90.

CONMED (NYSE:CNMD – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The firm had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. During the same period in the previous year, the company posted $1.15 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, analysts predict that CONMED will post 4.54 EPS for the current fiscal year.

About CONMED

(Get Free Report)

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.

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