CONMED Corp.’s Buy Rating Reaffirmed at Summer Street (CNMD)
CONMED Corp. (NASDAQ:CNMD)‘s stock had its “buy” rating restated by equities researchers at Summer Street in a research report issued on Friday, AnalystRatings.Net reports.
CONMED Corp. (NASDAQ:CNMD) traded down 0.69% during mid-day trading on Friday, hitting $47.54. The stock had a trading volume of 295,699 shares. CONMED Corp. has a 52 week low of $29.95 and a 52 week high of $48.16. The stock has a 50-day moving average of $43.21 and a 200-day moving average of $37.47. The company has a market cap of $1.313 billion and a price-to-earnings ratio of 37.08.
CONMED Corp. (NASDAQ:CNMD) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.04. The company had revenue of $203.40 million for the quarter, compared to the consensus estimate of $197.24 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that CONMED Corp. will post $1.94 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Ladenburg Thalmann downgraded shares of CONMED Corp. from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $51.75 price target on the stock, up previously from $42.00. Separately, analysts at Needham & Company raised their price target on shares of CONMED Corp. from $45.00 to $48.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of CONMED Corp. from $40.00 to $45.00 in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.19.
CONMED Corporation (NASDAQ:CNMD) is a medical technology company/ The Company emphasizes on surgical devices and equipment for minimally invasive procedures and monitoring.
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