Short Interest in CONMED Declines By 29.1% (CNMD)
Shares of CONMED (NASDAQ:CNMD) were the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 848,560 shares, a decrease of 29.1% from the April 15th total of 1,197,327 shares, Analyst Ratings Net reports. Based on an average trading volume of 335,909 shares, the days-to-cover ratio is presently 2.5 days. Approximately 3.4% of the company’s shares are short sold.
A number of analysts have recently weighed in on CNMD shares. Analysts at Zacks reiterated a “neutral” rating on shares of CONMED in a research note on Friday, April 25th. They now have a $47.00 price target on the stock. Analysts at Ladenburg Thalmann upgraded shares of CONMED from a “neutral” rating to a “buy” rating in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. CONMED currently has a consensus rating of “Buy” and a consensus price target of $43.67.
CONMED (NASDAQ:CNMD) opened at 49.45 on Tuesday. CONMED has a 1-year low of $29.95 and a 1-year high of $50.47. The stock has a 50-day moving average of $46.01 and a 200-day moving average of $43.38. The company has a market cap of $1.346 billion and a price-to-earnings ratio of 40.70.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $181.90 million for the quarter, compared to the consensus estimate of $191.95 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that CONMED will post $1.94 EPS for the current fiscal year.
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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