CONMED (NYSE:CNMD) Raised to “Strong-Buy” at Wall Street Zen

CONMED (NYSE:CNMD) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

A number of other equities analysts also recently commented on CNMD. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Bank of America decreased their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Wells Fargo & Company raised shares of CONMED to a “hold” rating in a research report on Wednesday, March 18th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CONMED presently has a consensus rating of “Reduce” and a consensus target price of $50.17.

CONMED Stock Down 5.5%

Shares of NYSE CNMD opened at $34.63 on Friday. The stock has a market capitalization of $1.07 billion, a PE ratio of 22.94, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average of $40.62 and a 200-day moving average of $43.03. CONMED has a 52-week low of $34.54 and a 52-week high of $61.13.

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

Institutional Investors Weigh In On CONMED

Several institutional investors and hedge funds have recently modified their holdings of CNMD. Kestra Advisory Services LLC acquired a new stake in shares of CONMED in the fourth quarter valued at about $26,000. Kelleher Financial Advisors acquired a new position in CONMED during the 3rd quarter worth approximately $28,000. Aster Capital Management DIFC Ltd lifted its position in CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after acquiring an additional 581 shares in the last quarter. Quarry LP boosted its holdings in CONMED by 244.8% in the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after acquiring an additional 617 shares during the period. Finally, Huntington National Bank grew its position in CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after acquiring an additional 466 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.