CONMED Co. (NYSE:CNMD) Receives Consensus Rating of "Moderate Buy" from Brokerages

CONMED Co. (NYSE:CNMD - Get Free Report) has been given an average rating of "Moderate Buy" by the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $79.80.

A number of research analysts recently issued reports on CNMD shares. Needham & Company LLC restated a "buy" rating and set a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in CONMED by 2.0% during the second quarter. Arizona State Retirement System now owns 8,619 shares of the company's stock worth $597,000 after acquiring an additional 168 shares in the last quarter. Hilltop National Bank grew its stake in shares of CONMED by 31.0% in the 2nd quarter. Hilltop National Bank now owns 825 shares of the company's stock worth $57,000 after buying an additional 195 shares during the last quarter. Diversified Trust Co increased its position in CONMED by 2.4% during the 2nd quarter. Diversified Trust Co now owns 11,250 shares of the company's stock valued at $780,000 after buying an additional 259 shares in the last quarter. HighTower Advisors LLC raised its stake in CONMED by 4.1% during the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock valued at $512,000 after buying an additional 275 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in CONMED by 5.0% during the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company's stock valued at $419,000 after buying an additional 280 shares during the last quarter.

CONMED Trading Down 1.4 %

CNMD stock traded down $1.04 during midday trading on Tuesday, hitting $74.92. The company had a trading volume of 359,328 shares, compared to its average volume of 401,155. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED has a 52 week low of $61.05 and a 52 week high of $117.27. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.98 and a beta of 1.46. The stock's 50 day moving average price is $69.45 and its 200 day moving average price is $70.51.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to analysts' expectations of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, equities research analysts expect that CONMED will post 4.03 earnings per share for the current fiscal year.

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.