CONMED (NYSE:CNMD) Price Target Lowered to $39.00 at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on CONMED from $42 to $39 and kept an "equal weight" rating; several other brokers have trimmed targets and MarketBeat shows a consensus average rating of "Reduce" with an average price target of $46.20.
• Q1 beat: CONMED reported $0.89 EPS (vs. $0.82 est.) and $317M revenue (vs. $310.6M est.), and management raised its 2026 organic growth outlook to ~5.0%–6.5% while planning to refinance debt.
• Management's strategic exit from certain GI products reduced Q1 sales by about $15.5M, creating a near-term revenue headwind even as the company refocuses on core surgical platforms.

CONMED (NYSE:CNMD - Get Free Report) had its price target reduced by stock analysts at Wells Fargo & Company from $42.00 to $39.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 3.89% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler downgraded CONMED from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $55.00 to $39.00 in a research report on Tuesday, March 17th. Weiss Ratings reiterated a "sell (d+)" rating on shares of CONMED in a research report on Wednesday, January 21st. Wall Street Zen raised CONMED from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on CONMED from $43.00 to $40.00 and set a "neutral" rating for the company in a report on Thursday. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $46.20.

CONMED Price Performance

CNMD stock traded up $0.88 during mid-day trading on Friday, reaching $37.54. 32,672 shares of the company's stock were exchanged, compared to its average volume of 510,364. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. The stock's 50 day moving average is $38.63 and its 200 day moving average is $41.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01. CONMED has a 12-month low of $33.21 and a 12-month high of $61.08.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. The company had revenue of $317.05 million for the quarter, compared to the consensus estimate of $310.64 million. CONMED had a return on equity of 13.85% and a net margin of 4.00%.CONMED's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, research analysts expect that CONMED will post 4.36 EPS for the current year.

Hedge Funds Weigh In On CONMED

A number of hedge funds have recently made changes to their positions in CNMD. Kestra Advisory Services LLC acquired a new position in shares of CONMED during the fourth quarter valued at approximately $26,000. Kelleher Financial Advisors acquired a new stake in shares of CONMED in the third quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd increased its holdings in shares of CONMED by 409.2% in the fourth 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 last quarter. Quarry LP increased its holdings in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company's stock valued at $41,000 after purchasing an additional 617 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of 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 purchasing an additional 466 shares during the last quarter.

Key Stories Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q1 results beat expectations — CONMED reported $0.89 EPS versus a $0.82 consensus and revenue of $317.0M versus ~$310.6M est., showing better-than-expected profitability and top-line resilience. This beat supports near-term investor confidence. Business Wire: Q1 Results
• Positive Sentiment: Management lifted its 2026 organic growth outlook (now projecting ~5.0%–6.5%) and plans to refinance debt — a constructive signal that the company expects healthier underlying demand and aimed capital-structure improvement, both supportive of longer-term EPS. Seeking Alpha: Growth Outlook & Refinancing
• Neutral Sentiment: Strategic pivot: CONMED announced an exit from certain GI products to sharpen focus on core surgical platforms. Management framed this as a long-term positive for margins and growth, but the exit reduced Q1 sales by roughly $15.5M — a near-term cut to revenue that offsets some of the beat. Investors should view this as a transitional move with mixed short- and long-term effects. MSN Deep Dive
• Negative Sentiment: Analyst reaction: JPMorgan trimmed its price target from $43 to $40 and assigns a "neutral" rating — signalling more cautious near-term sentiment from a major broker, which can cap upside until management proves the refocus and refinancing plan. Benzinga: JPMorgan PT Cut

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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