Wells Fargo & Company Forecasts Strong Price Appreciation for CONMED (NYSE:CNMD) Stock

Key Points

• Wells Fargo raised CONMED’s price target from $46 to $49 while maintaining an “equal weight” rating, implying approximately 11.9% upside from the reported share price.
• CONMED’s quarterly EPS of $1.04 exceeded the $1.00 consensus estimate, but revenue of $335.6 million fell slightly short of forecasts and declined 0.7% year over year.
• Shares fell 4.3% to $43.78, while overall analyst sentiment remained cautious: seven analysts rated the stock a Hold and one rated it Sell, producing a consensus “Reduce” rating and a $42 target price.

CONMED (NYSE:CNMD - Get Free Report) had its price target upped by equities research analysts at Wells Fargo & Company from $46.00 to $49.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 11.93% from the stock's current price.

A number of other brokerages have also recently issued reports on CNMD. BMO Capital Markets started coverage on shares of CONMED in a report on Wednesday, July 8th. They issued a "market perform" rating and a $36.00 target price on the stock. Weiss Ratings upgraded CONMED from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 21st. Wall Street Zen upgraded CONMED from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Zacks Research raised CONMED from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Piper Sandler restated a "neutral" rating and issued a $45.00 price objective (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $42.00.

CONMED Stock Down 4.3%

Shares of NYSE CNMD traded down $1.98 during trading hours on Thursday, hitting $43.78. The company had a trading volume of 22,941 shares, compared to its average volume of 504,320. CONMED has a 1-year low of $31.44 and a 1-year high of $53.66. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $47.32 and its 200-day moving average is $41.43. The stock has a market capitalization of $1.31 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $335.56 million for the quarter, compared to analyst estimates of $336.28 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, analysts expect that CONMED will post 4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CONMED

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC raised its stake in CONMED by 3.0% in the 3rd quarter. Choreo LLC now owns 16,571 shares of the company's stock worth $766,000 after purchasing an additional 480 shares in the last quarter. Signaturefd LLC grew its position in shares of CONMED by 82.7% during the 3rd quarter. Signaturefd LLC now owns 548 shares of the company's stock worth $25,000 after purchasing an additional 248 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of CONMED during the 2nd quarter worth approximately $207,000. Integrated Wealth Concepts LLC acquired a new stake in CONMED during the second quarter worth approximately $41,000. Finally, Allworth Financial LP raised its holdings in CONMED by 1,376.5% in the 2nd quarter. Allworth Financial LP now owns 1,447 shares of the company's stock valued at $47,000 after acquiring an additional 1,349 shares in the last quarter.

Trending Headlines about CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: CONMED reported third-quarter adjusted earnings of $1.04 per share, beating the $1.00 consensus estimate. Profit increased from the prior quarter, although EPS remained below the $1.08 reported in the year-ago period. Conmed Q3 Earnings Top Estimates
• Positive Sentiment: The company updated its full-year 2026 guidance, which could provide greater visibility into expected earnings and operating performance as investors evaluate the outlook. CONMED Q3 Profit Rises, Updates 2026 Guidance
• Neutral Sentiment: Management discussed the quarter and guidance during the earnings call, with analysts focusing on demand trends, operating execution and the company’s expectations for the remainder of 2026. CONMED Q3 2026 Earnings Call Transcript
• Negative Sentiment: Third-quarter revenue of approximately $335.6 million was slightly below the $336.3 million analyst estimate and declined 0.7% from a year earlier. The combination of soft sales growth and year-over-year EPS pressure likely limited the benefit of the earnings beat. CONMED Third Quarter 2026 Financial Results

CONMED Company Profile

CONMED Corporation is a medical technology company that develops, manufactures, and sells surgical devices and related equipment. Its products are used by hospitals, ambulatory surgery centers, and other healthcare providers in orthopedic and general surgery procedures.

The company's orthopedic portfolio includes arthroscopy systems, powered surgical instruments, sports medicine products, tissue ablation systems, implants, and related accessories. Its general surgery offerings include electrosurgical equipment, insufflation systems, smoke evacuation products, surgical visualization technologies, and devices used in minimally invasive procedures.

Founded in 1970, CONMED serves healthcare customers through direct sales and distribution channels in the United States and international markets.

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