CONMED Co. (NYSE:CNMD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of CONMED Co. (NYSE:CNMD) have been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $79.80.

Several brokerages have weighed in on CNMD. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

Institutional Trading of CONMED

Several hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new position in shares of CONMED in the second quarter valued at $39,000. Innealta Capital LLC bought a new stake in shares of CONMED in the 2nd quarter worth about $41,000. Hilltop National Bank raised its position in shares of CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares in the last quarter. CWM LLC lifted its holdings in shares of CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after acquiring an additional 636 shares during the last quarter. Finally, nVerses Capital LLC grew its position in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares in the last quarter.

CONMED Trading Down 0.5 %

NYSE:CNMD opened at $72.24 on Tuesday. CONMED has a one year low of $61.05 and a one year high of $117.27. The business has a fifty day moving average price of $69.36 and a 200-day moving average price of $70.50. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The business had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. Sell-side analysts forecast that CONMED will post 4.03 EPS for the current year.

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.