CONMED Corporation (NYSE:CNMD) Receives $53.67 Consensus Price Target from Analysts

by · The Markets Daily

Shares of CONMED Corporation (NYSE:CNMD – Get Free Report) have received an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $53.6667.

A number of research analysts have recently commented on CNMD shares. Bank of America lowered their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their price target on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Piper Sandler lowered their price objective on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. cut their target price on CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th.

Check Out Our Latest Stock Analysis on CNMD

CONMED Price Performance

Shares of NYSE:CNMD opened at $40.33 on Friday. The firm’s 50 day moving average is $43.93 and its two-hundred day moving average is $49.36. The firm has a market capitalization of $1.25 billion, a P/E ratio of 19.67, a PEG ratio of 2.67 and a beta of 0.98. The company has a current ratio of 2.10, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. CONMED has a 52 week low of $38.32 and a 52 week high of $74.70.

CONMED (NYSE:CNMD – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The business had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. During the same period in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wasatch Advisors LP bought a new stake in CONMED in the third quarter worth about $47,026,000. Invenomic Capital Management LP acquired a new position in shares of CONMED in the 3rd quarter worth approximately $19,753,000. Tributary Capital Management LLC bought a new stake in shares of CONMED in the 3rd quarter worth approximately $19,549,000. Fuller & Thaler Asset Management Inc. lifted its stake in CONMED by 36.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company’s stock valued at $70,900,000 after purchasing an additional 311,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in CONMED by 19.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock worth $60,984,000 after buying an additional 214,126 shares in the last quarter.

CONMED Company Profile

(Get Free Report)

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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