CONMED (NYSE:CNMD) Rating Lowered to Hold at StockNews.com

CONMED (NYSE:CNMD) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research analysts have also weighed in on the company. Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus dropped their target price on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company dropped their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 target price on shares of CONMED in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Trading Up 3.1 %

CONMED stock opened at $70.37 on Friday. The stock has a 50-day moving average of $69.52 and a two-hundred day moving average of $70.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. CONMED has a one year low of $61.05 and a one year high of $117.27. The stock has a market cap of $2.17 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 14.15% and a net margin of 10.23%. On average, research analysts anticipate that CONMED will post 3.99 EPS for the current fiscal year.

Institutional Trading of CONMED

Several institutional investors have recently bought and sold shares of CNMD. Earnest Partners LLC grew its holdings in CONMED by 18.9% in the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after purchasing an additional 447,498 shares during the period. Champlain Investment Partners LLC grew its holdings in CONMED by 36.1% in the first quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock valued at $104,349,000 after purchasing an additional 345,735 shares during the period. Clearbridge Investments LLC acquired a new stake in CONMED in the first quarter valued at approximately $27,343,000. Deerfield Management Company L.P. Series C grew its holdings in CONMED by 86.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock valued at $43,759,000 after purchasing an additional 293,099 shares during the period. Finally, Cooke & Bieler LP grew its holdings in CONMED by 49.8% in the second quarter. Cooke & Bieler LP now owns 628,621 shares of the company’s stock valued at $43,576,000 after purchasing an additional 209,064 shares during the period.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.