CONMED (NYSE:CNMD - Get Free Report) had its target price lowered by equities researchers at Needham & Company LLC from $91.00 to $61.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 6.05% from the company's current price.
A number of other analysts have also recently weighed in on CNMD. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and cut their price objective for the stock from $75.00 to $55.00 in a report on Monday, April 28th. Wells Fargo & Company cut their price target on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $62.20.
View Our Latest Report on CNMD
CONMED Stock Up 0.6 %
Shares of CONMED stock traded up $0.33 during trading on Thursday, hitting $57.52. 694,832 shares of the stock were exchanged, compared to its average volume of 452,344. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The firm's 50-day moving average price is $56.10 and its 200 day moving average price is $64.78. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. CONMED has a 12-month low of $46.00 and a 12-month high of $78.58.
CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. During the same period in the previous year, the business earned $0.79 EPS. CONMED's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts forecast that CONMED will post 4.35 earnings per share for the current fiscal year.
Institutional Trading of CONMED
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of CONMED by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock worth $244,633,000 after purchasing an additional 44,777 shares during the period. Earnest Partners LLC lifted its stake in shares of CONMED by 0.9% in the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after acquiring an additional 25,876 shares during the period. Capital Research Global Investors lifted its stake in shares of CONMED by 2.1% in the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after acquiring an additional 32,630 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in shares of CONMED in the fourth quarter valued at about $68,489,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of CONMED during the fourth quarter worth about $59,046,000.
About CONMED
(
Get Free Report)
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.
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