Weiss Ratings Reaffirms "Sell (D+)" Rating for CONMED (NYSE:CNMD)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for CONMED (NYSE:CNMD), reflecting concerns about the company's performance in the investment community.
• Recent changes in analyst ratings include Needham & Company lowering CONMED from a "buy" to a "hold" rating, while Piper Sandler decreased its price target from $80.00 to $68.00.
• CONMED's stock traded at $46.51 with a market cap of $1.44 billion, showing a significant drop from its 12-month high of $78.00.

CONMED (NYSE:CNMD - Get Free Report)'s stock had its "sell (d+)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. Needham & Company LLC lowered CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target on the stock. in a research note on Thursday, June 12th. Piper Sandler decreased their price target on CONMED from $80.00 to $68.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CONMED presently has an average rating of "Hold" and a consensus target price of $59.80.

CONMED Price Performance

CONMED stock traded up $0.61 during mid-day trading on Wednesday, reaching $46.51. 203,296 shares of the company were exchanged, compared to its average volume of 401,413. The company has a fifty day simple moving average of $51.70 and a 200-day simple moving average of $53.33. CONMED has a 12 month low of $45.06 and a 12 month high of $78.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The firm has a market cap of $1.44 billion, a PE ratio of 13.18, a PEG ratio of 1.56 and a beta of 1.14.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.02. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The firm had revenue of $342.35 million for the quarter, compared to analyst estimates of $338.42 million. During the same quarter last year, the company earned $0.98 EPS. The company's revenue was up 3.1% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.400-4.550 EPS. As a group, equities research analysts expect that CONMED will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CONMED news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the transaction, the director directly owned 14,859 shares of the company's stock, valued at approximately $795,253.68. The trade was a 11.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its holdings in CONMED by 41.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock worth $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in CONMED by 36.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock worth $70,900,000 after purchasing an additional 311,288 shares in the last quarter. Geode Capital Management LLC increased its holdings in CONMED by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 734,529 shares of the company's stock worth $38,259,000 after purchasing an additional 19,944 shares in the last quarter. Cooke & Bieler LP increased its holdings in CONMED by 5.8% during the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company's stock worth $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in CONMED by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 634,677 shares of the company's stock worth $38,328,000 after purchasing an additional 9,619 shares in the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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