CONMED Corporation (NYSE:CNMD) Given Consensus Recommendation of “Reduce” by Analysts

CONMED Corporation (NYSE:CNMD) has been assigned an average rating of “Reduce” from the eight analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $41.40.

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Wall Street Zen upgraded shares of CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Weiss Ratings upgraded shares of CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. BMO Capital Markets began coverage on CONMED in a report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on CONMED from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th.

CONMED Trading Down 1.1%

Shares of CNMD stock opened at $50.56 on Thursday. The stock has a 50-day simple moving average of $42.77 and a 200 day simple moving average of $39.69. CONMED has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The stock has a market capitalization of $1.51 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.33 and a beta of 0.88. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The firm had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. During the same period in the previous year, the business earned $1.15 earnings per share. CONMED’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. On average, sell-side analysts expect that CONMED will post 4.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CONMED

Several hedge funds have recently modified their holdings of the stock. Kelleher Financial Advisors purchased a new position in CONMED in the 3rd quarter worth about $28,000. Kestra Advisory Services LLC acquired a new position in shares of CONMED in the fourth quarter worth about $26,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after buying an additional 581 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of CONMED in the second quarter worth approximately $27,000. Finally, Quarry LP raised its holdings 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.

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.