CONMED (NYSE:CNMD) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded CONMED from “strong sell” to “hold,” while the broader analyst consensus remains “Reduce,” with six Hold ratings and two Sell ratings and an average price target of $41.40.
• CONMED reported quarterly adjusted EPS of $1.38, beating estimates of $1.11, and revenue of $343.49 million versus the $337.60 million consensus estimate; revenue increased 0.3% year over year.
• CONMED shares opened at $49.52, above the consensus price target, while several institutional investors—including Dimensional Fund Advisors and Arrowstreet Capital—expanded their holdings during the first quarter.

CONMED (NYSE:CNMD - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on CNMD. Weiss Ratings upgraded CONMED from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. Bank of America reissued an "underperform" rating and set a $40.00 price objective on shares of CONMED in a report on Monday, June 29th. Wells Fargo & Company boosted their price objective on shares of CONMED from $39.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. BMO Capital Markets began coverage on CONMED in a report on Wednesday, July 8th. They set a "market perform" rating and a $36.00 target price for the company. Finally, Piper Sandler reiterated a "neutral" rating and issued a $45.00 price target (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, CONMED has a consensus rating of "Reduce" and a consensus price target of $41.40.

CONMED Stock Performance

Shares of NYSE:CNMD opened at $49.52 on Tuesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.26 and a beta of 0.88. The firm's 50-day moving average is $39.61 and its 200 day moving average is $38.91. CONMED has a 12 month low of $31.44 and a 12 month high of $56.63. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CNMD. Bessemer Group Inc. increased its stake in CONMED by 46.5% during the 1st quarter. Bessemer Group Inc. now owns 116,429 shares of the company's stock valued at $4,117,000 after purchasing an additional 36,940 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of CONMED by 497.4% during the first quarter. Fifth Third Bancorp now owns 70,623 shares of the company's stock valued at $2,497,000 after buying an additional 58,801 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CONMED by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company's stock valued at $49,250,000 after buying an additional 80,116 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of CONMED by 39.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company's stock valued at $20,705,000 after acquiring an additional 166,301 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of CONMED by 217.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company's stock valued at $14,819,000 after acquiring an additional 287,150 shares during the period.

About CONMED

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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