CONMED (NYSE:CNMD) Raised to Buy at StockNews.com

CONMED (NYSE:CNMD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages have also recently weighed in on CNMD. Wells Fargo & Company decreased their price target on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Piper Sandler decreased their price target on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC decreased their price target on shares of CONMED from $106.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Trading Up 4.6 %

NYSE CNMD opened at $74.01 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.18 and a quick ratio of 1.08. The firm’s fifty day moving average price is $68.70 and its 200 day moving average price is $73.60. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. CONMED has a 12 month low of $61.05 and a 12 month high of $117.27.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. CONMED had a net margin of 7.73% and a return on equity of 14.12%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. On average, sell-side analysts expect that CONMED will post 3.99 earnings per share for the current fiscal year.

Insider Transactions at CONMED

In other news, insider Stanley W. Peters III sold 4,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.82, for a total value of $287,280.00. Following the completion of the sale, the insider now owns 63 shares in the company, valued at approximately $4,524.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Trading of CONMED

Several hedge funds have recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED in the second quarter valued at about $39,000. GAMMA Investing LLC acquired a new stake in shares of CONMED in the fourth quarter valued at about $40,000. Innealta Capital LLC acquired a new stake in shares of CONMED in the second quarter valued at about $41,000. Principal Securities Inc. acquired a new stake in shares of CONMED in the fourth quarter valued at about $46,000. Finally, Hilltop National Bank lifted its stake in shares of 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 purchasing an additional 195 shares during the period.

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.