Piper Sandler Reaffirms Neutral Rating for CONMED (NYSE:CNMD)

Key Points

• Piper Sandler reaffirmed its Neutral rating on CONMED while raising its price target from $39 to $45, still implying roughly 5.8% downside from the prior close. Analysts overall maintain a “Reduce” consensus rating with an average target of $41.40.
• CONMED’s second-quarter results exceeded expectations, with EPS of $1.38 versus the $1.10 consensus and revenue of $343.5 million versus $337.6 million expected.
• The company raised fiscal 2026 adjusted EPS guidance to $4.48–$4.60, while reporting 6% organic sales growth excluding strategic product exits—positive signals that supported the stock’s move to $47.77.

CONMED (NYSE:CNMD - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Piper Sandler in a report released on Thursday,Benzinga reports. They presently have a $45.00 target price on the stock, up from their prior target price of $39.00. Piper Sandler's price target suggests a potential downside of 5.79% from the company's previous close.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reissued a "sell (d)" rating on shares of CONMED in a research note on Thursday, June 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Bank of America reissued an "underperform" rating and set a $40.00 price objective on shares of CONMED in a research note on Monday, June 29th. Wall Street Zen raised shares of CONMED from a "hold" rating to a "buy" rating in a report on Monday, July 20th. Finally, Wells Fargo & Company increased their target price on shares of CONMED from $39.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $41.40.

CONMED Price Performance

Shares of NYSE:CNMD traded up $4.55 on Thursday, hitting $47.77. The company's stock had a trading volume of 530,515 shares, compared to its average volume of 558,222. CONMED has a 1 year low of $31.44 and a 1 year high of $56.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. The company has a market capitalization of $1.44 billion, a PE ratio of 27.02, a PEG ratio of 3.27 and a beta of 0.93. The company has a 50-day simple moving average of $36.89 and a 200 day simple moving average of $38.39.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.28. CONMED had a return on equity of 13.84% and a net margin of 4.00%.The firm had revenue of $343.49 million during the quarter, compared to analysts' expectations of $337.60 million. During the same period in the prior year, the business earned $1.15 EPS. The company's revenue for the quarter was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Sell-side analysts forecast that CONMED will post 4.38 EPS for the current fiscal year.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently bought and sold shares of CNMD. WINTON GROUP Ltd increased its stake in shares of CONMED by 0.3% during the fourth quarter. WINTON GROUP Ltd now owns 78,887 shares of the company's stock valued at $3,203,000 after purchasing an additional 260 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of CONMED by 48.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company's stock worth $42,000 after buying an additional 341 shares during the last quarter. California State Teachers Retirement System increased its position in CONMED by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 28,522 shares of the company's stock valued at $1,485,000 after buying an additional 442 shares in the last quarter. State of Wyoming increased its position in CONMED by 41.3% during the 4th quarter. State of Wyoming now owns 1,567 shares of the company's stock valued at $64,000 after buying an additional 458 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in CONMED by 409.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company's stock valued at $29,000 after buying an additional 581 shares during the last quarter.

Key Headlines Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: CONMED reported second-quarter earnings of $1.38 per share, well above the $1.10 analyst consensus and up from $1.15 a year earlier. Revenue of $343.5 million also exceeded estimates of $337.6 million. CONMED Corporation Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its fiscal 2026 adjusted EPS guidance to $4.48-$4.60, above the prior analyst consensus of approximately $4.37. The updated outlook was a major positive catalyst for the stock. CONMED Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management said sales rose 6.0% organically excluding the impact of previously announced strategic exits from certain gastrointestinal product offerings, suggesting healthier underlying demand than the headline revenue growth indicates. CONMED Second-Quarter Results and Guidance

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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