Brokerages Set CONMED Corporation (NYSE:CNMD) Target Price at $53.67

CONMED Corporation (NYSE:CNMD) has been given a consensus rating of “Reduce” by the eight brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $53.6667.

CNMD has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. Bank of America decreased their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Finally, Piper Sandler dropped their price target on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th.

CONMED Price Performance

CNMD stock opened at $42.89 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95. The company’s 50-day moving average is $42.05 and its 200-day moving average is $47.59. The stock has a market capitalization of $1.33 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.92 and a beta of 0.96. CONMED has a 1 year low of $38.32 and a 1 year high of $74.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Kelleher Financial Advisors purchased a new stake in CONMED in the 3rd quarter valued at $28,000. CWM LLC grew its stake in shares of CONMED by 352.0% in the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after acquiring an additional 616 shares in the last quarter. Quarry LP raised its holdings in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after purchasing an additional 617 shares during the last quarter. Huntington National Bank lifted its position in shares of CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after purchasing an additional 466 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in CONMED during the second quarter worth about $48,000.

CONMED Company Profile

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.