CONMED Co. (NYSE:CNMD) Given Average Rating of “Moderate Buy” by Analysts

CONMED Co. (NYSE:CNMD) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $79.80.

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Piper Sandler dropped their target price on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Finally, Stifel Nicolaus decreased their target price on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st.

Institutional Investors Weigh In On CONMED

A number of hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its stake in CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after acquiring an additional 81,970 shares during the period. Eagle Asset Management Inc. grew its stake in CONMED by 17.0% in the third quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company’s stock valued at $9,366,000 after acquiring an additional 18,545 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock valued at $27,431,000 after acquiring an additional 16,340 shares during the period. Intech Investment Management LLC grew its stake in CONMED by 177.6% in the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after acquiring an additional 10,187 shares during the period. Finally, Aurora Investment Counsel acquired a new stake in CONMED in the third quarter valued at approximately $1,100,000.

CONMED Stock Down 0.1 %

Shares of NYSE:CNMD opened at $74.77 on Friday. The firm has a market cap of $2.31 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.95 and a beta of 1.45. CONMED has a 12-month low of $61.05 and a 12-month high of $117.27. The business has a fifty day simple moving average of $69.74 and a 200 day simple moving average of $70.28. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The company had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. Analysts predict that CONMED will post 4.03 earnings per share for the current year.

About CONMED

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.