CONMED (NYSE:CNMD) Stock Rating Upgraded by Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

A number of other research firms also recently issued reports on CNMD. Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a report on Monday, July 13th. JPMorgan Chase & Co. reduced their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Wells Fargo & Company set a $39.00 price target on shares of CONMED in a research note on Monday, July 13th. Finally, Bank of America reissued an “underperform” rating and set a $40.00 target price on shares of CONMED in a research note on Monday, June 29th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $38.80.

CONMED Stock Down 0.3%

NYSE:CNMD opened at $43.05 on Monday. The stock has a fifty day simple moving average of $35.81 and a 200-day simple moving average of $38.35. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 3.19 and a beta of 0.93. CONMED has a twelve month low of $31.44 and a twelve month high of $56.63.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $317.05 million during the quarter, compared to analyst estimates of $310.64 million. CONMED had a net margin of 4.00% and a return on equity of 13.84%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Analysts anticipate that CONMED will post 4.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of CONMED in the fourth quarter valued at approximately $26,000. Kelleher Financial Advisors purchased a new stake in CONMED during the 3rd quarter worth about $28,000. Aster Capital Management DIFC Ltd boosted its holdings in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after purchasing an additional 581 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of CONMED by 210.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $37,000 after buying an additional 763 shares in the last quarter. Finally, Quarry LP increased its position in shares of CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares in the last quarter.

CONMED Company Profile

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.