CONMED (NYSE:CNMD) Rating Lowered to "Hold" at Stifel Nicolaus

CONMED (NYSE:CNMD - Get Free Report) was downgraded by equities research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research note issued to investors on Monday,Finviz reports. They presently have a $55.00 target price on the stock. Stifel Nicolaus' target price would indicate a potential upside of 8.50% from the stock's previous close.

Several other research firms have also commented on CNMD. Needham & Company LLC dropped their target price on CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $73.20.

CONMED Stock Down 0.6 %

Shares of NYSE:CNMD opened at $50.69 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $1.57 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.83 and a beta of 1.28. CONMED has a 52-week low of $46.00 and a 52-week high of $78.58. The stock's fifty day simple moving average is $56.99 and its 200-day simple moving average is $65.18.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, equities research analysts forecast that CONMED will post 4.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in CONMED by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock valued at $244,633,000 after buying an additional 44,777 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of CONMED by 0.9% during the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock valued at $192,328,000 after purchasing an additional 25,876 shares during the period. Capital Research Global Investors raised its position in shares of CONMED by 2.1% during the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after buying an additional 32,630 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in CONMED in the fourth quarter worth approximately $68,489,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of CONMED during the 4th quarter valued at $59,046,000.

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.

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