CONMED Corporation (NYSE:CNMD) Stock Has Average Price Target of $41.40

Key Points

• Analysts are cautious on CONMED: Eight firms give the stock an average “Reduce” rating, including two sells and six holds, with a $41.40 average price target—below its reported $45.20 share price.
• Quarterly results exceeded expectations: CONMED reported $1.38 in EPS versus the $1.11 consensus estimate and revenue of $343.49 million, compared with expectations of $337.60 million.
• Institutional ownership has increased: BlackRock and Bank of America initiated sizable positions, while Dimensional Fund Advisors, Invenomic Capital Management and Allspring Global Investments expanded their holdings.

CONMED Corporation (NYSE:CNMD - Get Free Report) has earned an average rating of "Reduce" from the eight research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $41.40.

A number of brokerages have issued reports on CNMD. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a report on Monday, July 13th. Bank of America reaffirmed an "underperform" rating and set a $40.00 price objective on shares of CONMED in a research note on Monday, June 29th. Weiss Ratings lowered shares of CONMED from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Wall Street Zen upgraded shares of CONMED from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. Finally, BMO Capital Markets initiated coverage on shares of CONMED in a research report on Wednesday, July 8th. They set a "market perform" rating and a $36.00 price target on the stock.

CONMED Price Performance

Shares of CNMD opened at $45.20 on Friday. The business's 50-day moving average is $48.10 and its two-hundred day moving average is $40.86. The company has a market capitalization of $1.35 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.69 and a current ratio of 1.48. CONMED has a fifty-two week low of $31.44 and a fifty-two week high of $53.66.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.27. The business had revenue of $343.49 million during the quarter, compared to analysts' expectations of $337.60 million. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The company's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 earnings per share for the current year.

Institutional Investors Weigh In On CONMED

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in CONMED in the 2nd quarter worth about $157,783,000. Dimensional Fund Advisors LP boosted its position in CONMED by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company's stock worth $49,250,000 after purchasing an additional 80,116 shares in the last quarter. Bank of America Corp DE acquired a new stake in CONMED in the second quarter valued at approximately $43,904,000. Invenomic Capital Management LP grew its holdings in CONMED by 75.6% in the fourth quarter. Invenomic Capital Management LP now owns 737,546 shares of the company's stock valued at $29,944,000 after purchasing an additional 317,543 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of CONMED by 39.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company's stock valued at $20,705,000 after buying an additional 166,301 shares in the last quarter.

About CONMED

CONMED Corporation NYSE: CNMD is a medical technology company that develops, manufactures and markets products used in minimally invasive surgical procedures. Its offerings support healthcare providers across a range of specialties, including general surgery, gastroenterology, pulmonology, gynecology, orthopedics and sports medicine.

The company's products include advanced surgical devices and systems, electrosurgical equipment, smoke evacuation systems, endoscopic instruments, powered surgical tools, and orthopedic products used in arthroscopic and reconstructive procedures.

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