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

CONMED Co. (NYSE:CNMD) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $79.80.

Several analysts have recently weighed in on CNMD shares. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st.

Institutional Investors Weigh In On CONMED

A number of institutional investors and hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. bought a new stake in CONMED in the second quarter valued at approximately $39,000. Innealta Capital LLC bought a new position in CONMED during the second quarter worth about $41,000. Hilltop National Bank grew its stake in CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after acquiring an additional 195 shares during the period. CWM LLC increased its holdings in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after acquiring an additional 636 shares in the last quarter. Finally, nVerses Capital LLC raised its position in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after purchasing an additional 1,700 shares during the period.

CONMED Trading Up 2.6 %

Shares of CNMD opened at $75.96 on Tuesday. The stock’s 50-day moving average price is $69.44 and its 200 day moving average price is $70.51. 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 has a 12-month low of $61.05 and a 12-month high of $117.27. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 0.95 and a beta of 1.45.

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

CONMED Company Profile

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.