CONMED Corporation (NYSE:CNMD) Given Average Rating of "Reduce" by Brokerages

Key Points

• CONMED has an average “Reduce” rating from eight brokerages, including two sell and six hold ratings, with an average 12-month price target of $41.40.
• The company exceeded quarterly expectations, reporting adjusted EPS of $1.38 versus the $1.11 consensus estimate and revenue of $343.49 million versus $337.60 million expected.
• CONMED shares opened at $51.34, well above the analyst consensus target, while several institutional investors—including BlackRock and Bank of America—recently established sizable positions.

CONMED Corporation (NYSE:CNMD - Get Free Report) has earned an average rating of "Reduce" from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $41.40.

A number of analysts recently commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Bank of America restated an "underperform" rating and set a $40.00 price target on shares of CONMED in a research note on Monday, June 29th. BMO Capital Markets began coverage on shares of CONMED in a report on Wednesday, July 8th. They issued a "market perform" rating and a $36.00 price target for the company. Piper Sandler reiterated a "neutral" rating and set a $45.00 price objective (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Finally, Wall Street Zen raised shares of CONMED from a "hold" rating to a "buy" rating in a report on Monday, July 20th.

CONMED Trading Up 4.2%

Shares of NYSE:CNMD opened at $51.34 on Thursday. The business's 50-day moving average is $41.05 and its 200 day moving average is $39.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. CONMED has a 1 year low of $31.44 and a 1 year high of $56.63. The firm has a market capitalization of $1.54 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.25 and a beta of 0.88.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business had revenue of $343.49 million during the quarter, compared to the consensus estimate of $337.60 million. During the same quarter last year, the company earned $1.15 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, research analysts predict that CONMED will post 4.54 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of CONMED during the second quarter worth about $157,783,000. Bank of America Corp DE acquired a new position in CONMED in the 2nd quarter worth approximately $43,904,000. Wasatch Advisors LP acquired a new position in CONMED in the 3rd quarter worth approximately $47,026,000. Paradigm Capital Management Inc. NY purchased a new position in CONMED during the 2nd quarter worth approximately $17,617,000. Finally, Invenomic Capital Management LP raised its position in CONMED by 75.6% during the 4th quarter. Invenomic Capital Management LP now owns 737,546 shares of the company's stock worth $29,944,000 after buying an additional 317,543 shares during 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.

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