CONMED Corporation (NYSE:CNMD) Receives Average Recommendation of “Reduce” from Analysts

CONMED Corporation (NYSE:CNMD) has earned an average rating of “Reduce” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $53.6667.

CNMD has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. cut their price target on CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research downgraded CONMED from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Bank of America cut their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. Finally, Wells Fargo & Company reduced their target price on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th.

CONMED Price Performance

CONMED stock opened at $43.52 on Wednesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.76 and a beta of 0.96. The company’s fifty day moving average price is $42.15 and its 200 day moving average price is $47.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 2.10. CONMED has a 1 year low of $38.32 and a 1 year high of $74.70.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $337.93 million during the quarter, compared to analysts’ expectations of $334.76 million. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, equities research analysts anticipate that CONMED will post 4.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CONMED

Institutional investors and hedge funds have recently modified their holdings of the company. Kelleher Financial Advisors purchased a new position in CONMED in the third quarter valued at approximately $28,000. CWM LLC raised its stake in CONMED by 352.0% during the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after acquiring an additional 616 shares in the last quarter. Quarry LP boosted its stake in CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after acquiring an additional 617 shares in the last quarter. Huntington National Bank increased its position in shares of CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after purchasing an additional 466 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of CONMED during the second quarter worth about $48,000.

About CONMED

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.