CONMED (NYSE:CNMD) Price Target Lowered to $40.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered its price target on CONMED from $43 to $40 and maintained a "neutral" rating, while consensus among analysts is a "Reduce" with an average target of $46.80 after several recent downgrades.
• CONMED reported a Q1 beat with $0.89 EPS and $317.0M revenue, but top-line pressure from exiting GI products (about $15.5M) and year‑over‑year softness left margins and near‑term sales ambiguous.
• Management is guiding 2026 organic growth of 5.0%–6.5% and plans to refinance debt, and the stock is trading around $36.63 (market cap ~$1.1B) with JPMorgan's target implying roughly a 9% upside.

CONMED (NYSE:CNMD - Get Free Report) had its price target cut by research analysts at JPMorgan Chase & Co. from $43.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 9.21% from the company's previous close.

Several other brokerages have also recently commented on CNMD. Piper Sandler cut CONMED from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $39.00 in a report on Tuesday, March 17th. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a report on Thursday, January 29th. Zacks Research raised CONMED from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a "sell (d+)" rating on shares of CONMED in a report on Wednesday, January 21st. Finally, Wells Fargo & Company raised CONMED to a "hold" rating in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CONMED presently has an average rating of "Reduce" and a consensus target price of $46.80.

CONMED Stock Performance

Shares of CNMD traded up $0.67 during mid-day trading on Thursday, reaching $36.63. 1,183,530 shares of the company's stock traded hands, compared to its average volume of 516,319. The business's 50-day moving average price is $38.79 and its 200-day moving average price is $41.17. The stock has a market capitalization of $1.10 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. CONMED has a 12 month low of $33.21 and a 12 month high of $61.08.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The firm had revenue of $317.05 million for the quarter, compared to analysts' expectations of $310.59 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts predict that CONMED will post 4.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CNMD. Wasatch Advisors LP acquired a new position in CONMED in the third quarter worth approximately $47,026,000. Invenomic Capital Management LP acquired a new position in CONMED in the third quarter worth approximately $19,753,000. Tributary Capital Management LLC acquired a new position in CONMED in the third quarter worth approximately $19,549,000. Marshall Wace LLP acquired a new position in CONMED in the fourth quarter worth approximately $9,029,000. Finally, Dimensional Fund Advisors LP grew its position in CONMED by 19.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company's stock worth $60,984,000 after buying an additional 214,126 shares during the last quarter.

CONMED News Summary

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q1 beat — CONMED reported $0.89 EPS vs. $0.82 consensus and revenue of $317.0M vs. ~$310.6M expected, showing resilience versus estimates. CONMED Corporation Announces First Quarter 2026 Financial Results
• Positive Sentiment: Raised organic-growth outlook — management is guiding 2026 organic growth of 5.0%–6.5% and is sharpening the company’s focus on higher‑growth segments, which supports a higher longer‑term growth trajectory. Conmed projects 2026 organic growth of 5.0% to 6.5% while refinancing debt and exiting GI
• Neutral Sentiment: Debt refinancing underway — management says it will refinance debt (term and cost details pending). This could lower interest expense and improve cash flow but is outcome‑dependent until terms are finalized. Conmed projects 2026 organic growth of 5.0% to 6.5% while refinancing debt and exiting GI
• Negative Sentiment: Near‑term sales headwind from exiting GI products — the exit reduced Q1 sales by ~$15.5M and contributed to domestic revenue falling ~5.8% YoY; net sales were down ~1.3% YoY. That explains the disconnect between the beat and softer top‑line trends. CONMED Corporation Announces First Quarter 2026 Financial Results
• Negative Sentiment: Profitability and FY guidance ambiguity — EPS declined vs. the prior year (from $0.95 to $0.89) and margins remain pressured; some commentary and guidance details left uncertainty that could temper investor enthusiasm. CONMED's Q1 Earnings and Revenues Beat, Organic Sales Outlook Up

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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