CONMED Corporation (CNMD) Earns Hold Rating from Piper Jaffray Companies
CONMED Corporation (NASDAQ:CNMD)‘s stock had its “hold” rating reaffirmed by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They currently have a $46.00 price objective on the medical technology company’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 13.81% from the company’s current price.
Several other research analysts have also weighed in on the stock. KeyCorp restated a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of CONMED Corporation in a research report on Friday, September 1st. Zacks Investment Research lowered shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Finally, BidaskClub lowered shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.33.
CONMED Corporation (NASDAQ CNMD) traded up $1.01 during midday trading on Friday, reaching $53.37. 102,436 shares of the company traded hands, compared to its average volume of 84,669. The stock has a market capitalization of $1.49 billion, a PE ratio of 30.41, a PEG ratio of 3.35 and a beta of 0.66. The company has a quick ratio of 1.57, a current ratio of 2.62 and a debt-to-equity ratio of 0.83.
CONMED Corporation (NASDAQ:CNMD) last posted its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.43%. The firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $187.13 million. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts expect that CONMED Corporation will post 1.87 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “CONMED Corporation (CNMD) Earns Hold Rating from Piper Jaffray Companies” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/03/conmed-corporation-cnmd-earns-hold-rating-from-piper-jaffray-companies.html.
In related news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the sale, the director now owns 19,782 shares in the company, valued at $989,100. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.62% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new position in CONMED Corporation during the second quarter worth approximately $273,000. Swiss National Bank raised its stake in CONMED Corporation by 6.1% during the second quarter. Swiss National Bank now owns 41,700 shares of the medical technology company’s stock worth $2,124,000 after purchasing an additional 2,400 shares during the period. Virginia Retirement Systems ET AL raised its stake in CONMED Corporation by 10.8% during the second quarter. Virginia Retirement Systems ET AL now owns 27,800 shares of the medical technology company’s stock worth $1,416,000 after purchasing an additional 2,700 shares during the period. BlackRock Inc. raised its stake in CONMED Corporation by 46,036.5% during the first quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock worth $140,043,000 after purchasing an additional 3,146,592 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of CONMED Corporation by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,850 shares of the medical technology company’s stock valued at $298,000 after acquiring an additional 220 shares during the period. 98.36% of the stock is currently owned by institutional investors.
CONMED Corporation Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
Receive News & Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related companies with MarketBeat.com's FREE daily email newsletter.