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

CONMED Corporation (NYSE:CNMD) has been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $52.8333.

Several brokerages recently issued reports on CNMD. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Wells Fargo & Company lifted their price target on shares of CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, January 29th. Bank of America dropped their price objective 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, Piper Sandler decreased their target price on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th.

Hedge Funds Weigh In On CONMED

Several hedge funds and other institutional investors have recently modified their holdings of the company. Villanova Investment Management Co LLC boosted its position in CONMED by 20.3% during the 4th quarter. Villanova Investment Management Co LLC now owns 70,655 shares of the company’s stock worth $2,869,000 after acquiring an additional 11,906 shares during the period. Pacer Advisors Inc. bought a new stake in shares of CONMED during the fourth quarter valued at about $5,806,000. Invesco Ltd. lifted its holdings in CONMED by 29.9% in the fourth quarter. Invesco Ltd. now owns 184,070 shares of the company’s stock worth $7,473,000 after purchasing an additional 42,395 shares during the period. State of Tennessee Department of Treasury grew its position in CONMED by 4.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 21,139 shares of the company’s stock valued at $812,000 after buying an additional 873 shares in the last quarter. Finally, VARCOV Co. bought a new position in CONMED in the 4th quarter valued at about $1,007,000.

CONMED Price Performance

CNMD opened at $46.09 on Thursday. The company has a market capitalization of $1.42 billion, a P/E ratio of 30.52, a PEG ratio of 2.02 and a beta of 0.97. The company has a 50-day moving average of $41.59 and a 200-day moving average of $45.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. CONMED has a 1-year low of $35.37 and a 1-year high of $64.87.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The business had revenue of $373.20 million during the quarter, compared to the consensus estimate of $366.88 million. During the same period last year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that CONMED will post 4.35 EPS for the current fiscal year.

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.