CONMED (NYSE:CNMD) Upgraded by Wall Street Zen to Strong-Buy Rating
by Renee Jackson · The Cerbat GemWall Street Zen upgraded shares of CONMED (NYSE:CNMD – Free Report) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.
CNMD has been the topic of a number of other reports. Piper Sandler cut shares of CONMED from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $39.00 in a research note on Tuesday, March 17th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Wells Fargo & Company upgraded shares of CONMED to a “hold” rating in a research note on Wednesday, March 18th. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $50.17.
View Our Latest Research Report on CONMED
CONMED Price Performance
Shares of NYSE CNMD opened at $39.74 on Tuesday. CONMED has a fifty-two week low of $33.21 and a fifty-two week high of $61.08. The firm’s 50-day simple moving average is $39.61 and its 200 day simple moving average is $41.75. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.20 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.69 and a beta of 0.99.
CONMED (NYSE:CNMD – Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The business had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. During the same period in the previous year, the business earned $1.34 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect that CONMED will post 4.35 EPS for the current year.
Institutional Investors Weigh In On CONMED
Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new stake in CONMED in the fourth quarter worth about $26,000. Kelleher Financial Advisors bought a new stake in CONMED in the third quarter worth about $28,000. Aster Capital Management DIFC Ltd raised its position in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after acquiring an additional 581 shares in the last quarter. Quarry LP raised its position in CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after acquiring an additional 617 shares in the last quarter. Finally, Huntington National Bank raised its position in CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after acquiring an additional 466 shares in the last quarter.
CONMED Company Profile
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.