CONMED (NYSE:CNMD) Given New $46.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised CONMED’s price target to $46 from $39 while maintaining an “equal weight” rating, implying roughly 4.7% downside from the stock’s reported $48.27 price. MarketBeat analysts overall assign the shares a “Reduce” rating with an average $40.20 target.
• CONMED reported quarterly adjusted EPS of $1.38, beating the $1.10 consensus, while revenue of $343.5 million also exceeded expectations. The company issued fiscal 2026 EPS guidance of $4.48–$4.60, above analysts’ roughly $4.37 forecast.
• Despite reported revenue growth of only 0.3% year over year, organic sales increased 6% after excluding the impact of strategic exits from certain gastrointestinal products, indicating stronger performance in the continuing business.

CONMED (NYSE:CNMD - Get Free Report) had its price target upped by Wells Fargo & Company from $39.00 to $46.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 4.69% from the company's current price.

Other research analysts have also issued research reports about the stock. Bank of America reiterated an "underperform" rating and set a $40.00 price objective on shares of CONMED in a research note on Monday, June 29th. Zacks Research cut CONMED from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. BMO Capital Markets initiated coverage on CONMED in a report on Wednesday, July 8th. They issued a "market perform" rating and a $36.00 price objective for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CONMED from $43.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $40.20.

CONMED Price Performance

CNMD stock traded up $5.06 during trading on Thursday, hitting $48.27. The company had a trading volume of 127,295 shares, compared to its average volume of 554,804. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 3.27 and a beta of 0.93. The business has a 50 day moving average of $36.89 and a 200 day moving average of $38.39. CONMED has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.10 by $0.28. CONMED had a net margin of 4.00% and a return on equity of 13.84%. The firm had revenue of $343.49 million for the quarter, compared to analysts' expectations of $337.60 million. During the same quarter last year, the company earned $1.15 EPS. CONMED'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. As a group, research analysts predict that CONMED will post 4.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in CONMED during the 4th quarter worth about $26,000. Kelleher Financial Advisors purchased a new position in CONMED during the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd increased its holdings in shares of CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company's stock valued at $29,000 after purchasing an additional 581 shares during the period. Versant Capital Management Inc increased its holdings in shares of CONMED by 210.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,125 shares of the company's stock valued at $37,000 after purchasing an additional 763 shares during the period. Finally, Quarry LP lifted its position in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company's stock worth $41,000 after purchasing an additional 617 shares in the last quarter.

Key Stories Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q2 earnings beat estimates. CONMED reported adjusted earnings of $1.38 per share, well above the $1.10 consensus estimate and up from $1.15 a year earlier. Revenue reached $343.5 million, surpassing the $337.6 million consensus forecast. CONMED Corporation Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year EPS guidance was raised or reaffirmed above Wall Street expectations. CONMED forecast fiscal 2026 earnings of $4.48 to $4.60 per share, compared with analyst expectations near $4.37. The guidance supports the bullish reaction because it indicates management expects earnings momentum to continue. Conmed Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Underlying sales growth was stronger than the headline figure. Although reported sales increased only 0.3% year over year, revenue grew 6.0% organically when excluding the impact of previously announced strategic exits from certain gastrointestinal product offerings. This suggests the continuing business is performing better than reported growth implies. CONMED Corp Q2 2026 Earnings

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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