CONMED (NYSE:CNMD) Raised to Strong-Buy at Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other brokerages have also commented on CNMD. Wells Fargo & Company lifted their price objective on CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Bank of America lowered their price target 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. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Thursday, January 29th. One investment 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. According to MarketBeat.com, CONMED presently has a consensus rating of “Hold” and a consensus price target of $52.83.

CONMED Stock Performance

CNMD stock opened at $40.11 on Friday. The company has a 50 day moving average price of $42.09 and a 200 day moving average price of $44.88. CONMED has a fifty-two week low of $35.37 and a fifty-two week high of $64.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01. The stock has a market capitalization of $1.24 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share 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 company had revenue of $373.20 million during the quarter, compared to the consensus estimate of $366.88 million. During the same quarter in the previous year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts forecast that CONMED will post 4.35 EPS for the current year.

Institutional Trading of CONMED

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in CONMED during the fourth quarter worth $26,000. Kelleher Financial Advisors acquired a new stake in CONMED in the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd increased its stake in CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after buying an additional 581 shares during the last quarter. Quarry LP lifted its position in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares in the last quarter. Finally, Huntington National Bank lifted its position in CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after buying an additional 466 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.