CONMED Co. (NYSE:CNMD) Receives $79.80 Average PT from Brokerages

Shares of CONMED Co. (NYSE:CNMD - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $79.80.

Several analysts have weighed in on the company. Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of CONMED from $77.00 to $71.00 and set an "equal weight" rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus reduced their price target on shares of CONMED from $88.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. StockNews.com downgraded shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday. Finally, Needham & Company LLC reissued a "buy" rating and set a $97.00 target price on shares of CONMED in a report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNMD. Vanguard Group Inc. grew its stake in CONMED by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company's stock valued at $276,823,000 after acquiring an additional 36,823 shares during the period. Earnest Partners LLC increased its stake in shares of CONMED by 18.9% during the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company's stock worth $195,386,000 after purchasing an additional 447,498 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of CONMED by 36.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company's stock worth $104,349,000 after purchasing an additional 345,735 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in CONMED by 86.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company's stock valued at $43,759,000 after buying an additional 293,099 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in CONMED by 49.8% in the 2nd quarter. Cooke & Bieler LP now owns 628,621 shares of the company's stock worth $43,576,000 after buying an additional 209,064 shares during the last quarter.

CONMED Stock Performance

CNMD stock traded down $1.33 during trading on Friday, reaching $73.43. The company had a trading volume of 464,114 shares, compared to its average volume of 490,459. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. CONMED has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The firm has a 50-day simple moving average of $69.63 and a 200-day simple moving average of $70.13.

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

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.