CONMED Corporation (NYSE:CNMD) Given Average Recommendation of “Reduce” by Analysts
by Tristan Rich · The Markets DailyCONMED Corporation (NYSE:CNMD – Get Free Report) has been given an average recommendation of “Reduce” by the eight brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $50.1667.
Several research analysts have commented on CNMD shares. Piper Sandler downgraded CONMED from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $39.00 in a research note on Tuesday, March 17th. Needham & Company LLC reiterated a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Bank of America reduced their price objective on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Finally, Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd.
Get Our Latest Analysis on CONMED
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in CNMD. Kelleher Financial Advisors bought a new stake in CONMED in the 3rd quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new position in CONMED during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd raised its stake in shares of 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 acquiring an additional 581 shares in the last quarter. Quarry LP raised its stake in shares of CONMED by 244.8% during 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 lifted its holdings in shares of CONMED by 111.8% in the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after acquiring an additional 466 shares during the last quarter.
CONMED Stock Up 0.2%
CONMED stock opened at $34.63 on Monday. The firm has a 50 day simple moving average of $40.62 and a 200 day simple moving average of $42.96. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. CONMED has a 1-year low of $34.54 and a 1-year high of $61.13. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.52 and a beta of 0.91.
CONMED (NYSE:CNMD – Get Free Report) last posted its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The firm had revenue of $373.20 million for the quarter, compared to the consensus estimate of $366.88 million. During the same quarter in the prior year, the business posted $1.34 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that CONMED will post 4.35 earnings per share for the current year.
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.