CONMED (NYSE:CNMD) Upgraded at Zacks Research

Zacks Research upgraded shares of CONMED (NYSE:CNMD) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Thursday, January 29th. Bank of America cut their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. JPMorgan Chase & Co. lowered 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. Finally, Piper Sandler dropped their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CONMED presently has an average rating of “Hold” and an average target price of $52.83.

CONMED Stock Up 2.0%

CNMD stock opened at $40.71 on Tuesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 26.96, a P/E/G ratio of 1.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95. CONMED has a 1-year low of $35.37 and a 1-year high of $72.80. The business has a fifty day moving average price of $41.03 and a 200-day moving average price of $46.09.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.36% and a net margin of 3.42%.The company had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. During the same period last year, the firm posted $1.34 earnings per share. CONMED’s revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that CONMED will post 4.35 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Several hedge funds have recently bought and sold shares of the stock. Kelleher Financial Advisors bought a new position in shares of CONMED in the third quarter worth about $28,000. CWM LLC increased its holdings in CONMED by 352.0% in 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 raised its stake in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after acquiring an additional 617 shares during the period. Huntington National Bank lifted its holdings in CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after purchasing an additional 466 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in CONMED during the second quarter valued at approximately $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.