CONMED (NYSE:CNMD) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of CONMED (NYSE:CNMD) from a hold rating to a buy rating in a research note released on Saturday.

Other equities analysts have also recently issued reports about the stock. Bank of America decreased their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company upped their price objective on shares of CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Finally, Piper Sandler cut their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.83.

CONMED Stock Performance

NYSE CNMD opened at $45.18 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of 29.92, a PEG ratio of 1.98 and a beta of 0.97. The stock has a 50-day simple moving average of $41.23 and a two-hundred day simple moving average of $45.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 2.14. CONMED has a fifty-two week low of $35.37 and a fifty-two week high of $64.87.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. The firm had revenue of $373.20 million for the quarter, compared to analyst estimates of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.CONMED’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, equities analysts forecast that CONMED will post 4.35 earnings per share for the current year.

Institutional Investors Weigh In On CONMED

Large investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in shares of CONMED in the fourth quarter valued at approximately $26,000. Kelleher Financial Advisors purchased a new position in CONMED in the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd boosted its stake in CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after purchasing an additional 581 shares during the last quarter. CWM LLC grew its holdings in shares of CONMED by 352.0% during the second quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after buying an additional 616 shares in the last quarter. Finally, Quarry LP raised its position in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after buying an additional 617 shares during the last quarter.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.