CONMED (NYSE:CNMD) Downgraded to "Neutral" Rating by JPMorgan Chase & Co.

CONMED (NYSE:CNMD - Get Free Report) was downgraded by investment analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $70.00 target price on the stock, down from their prior target price of $85.00. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.54% from the stock's current price.

Several other research analysts have also issued reports on the stock. StockNews.com lowered shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Needham & Company LLC restated a "buy" rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.20.

CONMED Trading Down 1.5 %

CONMED stock traded down $1.04 during trading hours on Thursday, hitting $66.32. The stock had a trading volume of 827,550 shares, compared to its average volume of 463,932. The business's 50 day simple moving average is $70.37 and its 200-day simple moving average is $70.14. CONMED has a one year low of $61.05 and a one year high of $88.60. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.05 and a beta of 1.46. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. On average, equities analysts predict that CONMED will post 4.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after buying an additional 351 shares in the last quarter. CWM LLC raised its holdings in shares of CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after acquiring an additional 332 shares during the last quarter. Pacer Advisors Inc. lifted its position in CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after acquiring an additional 485 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after purchasing an additional 322 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $144,000 after purchasing an additional 1,700 shares in the last quarter.

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.