CONMED (NYSE:CNMD) Price Target Lowered to $55.00 at Piper Sandler

by · The Cerbat Gem

CONMED (NYSE:CNMD – Get Free Report) had its target price cut by equities researchers at Piper Sandler from $68.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 29.90% from the company’s previous close.

A number of other research firms have also weighed in on CNMD. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.20.

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CONMED Stock Performance

Shares of NYSE:CNMD traded down $2.10 on Thursday, reaching $42.34. The company’s stock had a trading volume of 223,836 shares, compared to its average volume of 455,138. The stock’s 50-day moving average is $48.63 and its two-hundred day moving average is $51.99. CONMED has a 52-week low of $41.62 and a 52-week high of $78.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The stock has a market capitalization of $1.31 billion, a P/E ratio of 11.91, a PEG ratio of 1.59 and a beta of 1.14.

CONMED (NYSE:CNMD – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The business had revenue of $337.93 million during the quarter, compared to analysts’ expectations of $334.76 million. During the same period in the prior year, the company earned $1.05 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, sell-side analysts forecast that CONMED will post 4.35 EPS for the current year.

Insider Activity

In other news, Director Charles Farkas sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $53.52, for a total transaction of $107,040.00. Following the sale, the director owned 14,859 shares in the company, valued at $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CONMED

A number of large investors have recently made changes to their positions in the company. Keeler Thomas Management LLC acquired a new position in CONMED in the 2nd quarter valued at approximately $1,081,000. Raymond James Financial Inc. raised its stake in shares of CONMED by 46.5% in the 1st quarter. Raymond James Financial Inc. now owns 390,675 shares of the company’s stock valued at $23,592,000 after buying an additional 124,050 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of CONMED by 41.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company’s stock worth $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in CONMED during the 1st quarter worth about $320,000. Finally, Envestnet Asset Management Inc. grew its holdings in CONMED by 6.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 159,750 shares of the company’s stock worth $9,647,000 after acquiring an additional 10,040 shares during the last quarter.

CONMED Company Profile

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CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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