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.

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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.

Analyst Recommendations for CONMED Corporation (NASDAQ:CNMD)

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