CONMED (NYSE:CNMD) Trading Down 6.7% – Should You Sell?

CONMED Corporation (NYSE:CNMD) shares were down 6.7% during trading on Friday . The stock traded as low as $41.75 and last traded at $41.2850. Approximately 47,218 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 460,912 shares. The stock had previously closed at $44.24.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNMD. Piper Sandler dropped their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Wells Fargo & Company lowered their price objective on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. 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. Based on data from MarketBeat, CONMED has an average rating of “Hold” and a consensus target price of $54.00.

CONMED Trading Down 10.7%

The firm’s fifty day moving average price is $44.87 and its 200-day moving average price is $50.32. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. CONMED had a net margin of 4.75% and a return on equity of 14.22%. The firm had revenue of $337.93 million for the quarter, compared to the consensus estimate of $334.76 million. During the same period last year, the firm posted $1.05 EPS. CONMED’s quarterly revenue was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. On average, equities analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the sale, the director owned 14,859 shares of the company’s stock, valued at $795,253.68. The trade was a 11.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CONMED

Institutional investors have recently bought and sold shares of the stock. Kelleher Financial Advisors acquired a new position in CONMED during the 3rd quarter valued at about $28,000. CWM LLC boosted its holdings in shares of CONMED by 352.0% in the second quarter. CWM LLC now owns 791 shares of the company’s stock valued at $41,000 after acquiring an additional 616 shares in the last quarter. Quarry LP increased its stake in shares of CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after acquiring an additional 617 shares during the period. Huntington National Bank raised its holdings in CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after purchasing an additional 466 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in CONMED during the second quarter worth approximately $48,000.

About CONMED

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.