CONMED (NYSE:CNMD - Get Free Report) had its price target boosted by stock analysts at Stifel Nicolaus from $72.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 11.26% from the stock's current price.
A number of other analysts have also commented on the stock. Wells Fargo & Company reduced their price objective on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday. Needham & Company LLC dropped their target price on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday. StockNews.com downgraded shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $85.00 to $70.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, CONMED presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.
Read Our Latest Analysis on CNMD
CONMED Price Performance
CNMD stock traded up $0.98 during trading on Thursday, hitting $67.41. The company had a trading volume of 528,041 shares, compared to its average volume of 460,718. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $88.60. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.05 and a beta of 1.46. The business has a 50 day moving average of $70.37 and a 200 day moving average of $70.13. 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 (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, research analysts predict that CONMED will post 4.35 earnings per share for the current year.
Institutional Investors Weigh In On CONMED
A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. CWM LLC raised its holdings in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after purchasing an additional 332 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after buying an additional 485 shares during the period. Smartleaf Asset Management LLC lifted its holdings in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after buying an additional 322 shares during the period. Finally, nVerses Capital LLC boosted its stake in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock valued at $144,000 after acquiring an additional 1,700 shares during the last quarter.
About CONMED
(
Get Free Report)
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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