CONMED Corporation (NYSE:CNMD) Given Average Recommendation of “Reduce” by Analysts

Shares of CONMED Corporation (NYSE:CNMD) have earned an average recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $53.6667.

CNMD has been the topic of several analyst reports. Bank of America lowered their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Piper Sandler cut their price objective on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Zacks Research lowered shares of CONMED from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st.

Institutional Trading of CONMED

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in CONMED by 1.8% during the third quarter. Vanguard Group Inc. now owns 3,610,906 shares of the company’s stock worth $169,821,000 after acquiring an additional 62,917 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CONMED by 19.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock worth $60,984,000 after purchasing an additional 214,126 shares in the last quarter. Wasatch Advisors LP purchased a new stake in CONMED during the third quarter worth about $47,026,000. Deerfield Management Company L.P. boosted its holdings in CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after buying an additional 59,925 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in CONMED by 2.8% during the second quarter. Geode Capital Management LLC now owns 734,529 shares of the company’s stock worth $38,259,000 after buying an additional 19,944 shares during the period.

CONMED Stock Up 3.9%

CNMD stock opened at $43.52 on Wednesday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.76 and a beta of 0.96. The company has a fifty day moving average price of $42.15 and a 200 day moving average price of $47.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95. CONMED has a 12 month low of $38.32 and a 12 month high of $74.70.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a net margin of 4.75% and a return on equity of 14.22%. The company had revenue of $337.93 million for the quarter, compared to analyst estimates of $334.76 million. During the same period in the previous year, the business posted $1.05 earnings per share. CONMED’s quarterly revenue was up 6.7% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Sell-side analysts expect that CONMED will post 4.35 earnings per share for the current year.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.