CONMED (NYSE:CNMD) Stock Rating Upgraded by Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research firms also recently commented on CNMD. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Wells Fargo & Company upped their price target on shares of CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Piper Sandler lowered their target price on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CONMED presently has an average rating of “Hold” and a consensus target price of $52.83.

CONMED Price Performance

Shares of NYSE CNMD opened at $45.18 on Friday. The company has a current ratio of 2.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $41.23 and a two-hundred day simple moving average of $45.51. CONMED has a 1-year low of $35.37 and a 1-year high of $64.87. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The firm had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 EPS. Analysts anticipate that CONMED will post 4.35 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in CONMED by 14.8% during the third quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock valued at $83,000 after buying an additional 228 shares during the period. WINTON GROUP Ltd raised its holdings in shares of CONMED by 0.3% in the 4th quarter. WINTON GROUP Ltd now owns 78,887 shares of the company’s stock valued at $3,203,000 after acquiring an additional 260 shares in the last quarter. Amalgamated Bank raised its holdings in shares of CONMED by 3.3% in the 3rd quarter. Amalgamated Bank now owns 9,129 shares of the company’s stock valued at $429,000 after acquiring an additional 294 shares in the last quarter. Keeler Thomas Management LLC boosted its position in shares of CONMED by 1.6% during the 3rd quarter. Keeler Thomas Management LLC now owns 21,107 shares of the company’s stock valued at $993,000 after acquiring an additional 342 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of CONMED by 1.6% during the second quarter. California State Teachers Retirement System now owns 28,522 shares of the company’s stock worth $1,485,000 after purchasing an additional 442 shares in the last quarter.

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.