CONMED (NYSE:CNMD) Price Target Lowered to $39.00 at Wells Fargo & Company

CONMED (NYSE:CNMD) had its price target lowered by Wells Fargo & Company from $42.00 to $39.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on CNMD. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Thursday, January 29th. Wall Street Zen upgraded shares of CONMED from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Piper Sandler downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $39.00 in a report on Tuesday, March 17th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CONMED presently has an average rating of “Reduce” and an average price target of $46.20.

CONMED Price Performance

Shares of NYSE:CNMD traded up $0.06 during trading on Friday, hitting $36.72. 469,997 shares of the stock were exchanged, compared to its average volume of 404,997. The company has a market cap of $1.11 billion, a PE ratio of 20.75, a P/E/G ratio of 1.61 and a beta of 0.94. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $38.63 and a two-hundred day moving average price of $41.13. CONMED has a 12-month low of $33.21 and a 12-month high of $61.08.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The firm had revenue of $317.05 million during the quarter, compared to the consensus estimate of $310.64 million. CONMED had a return on equity of 13.85% and a net margin of 4.00%.CONMED’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. On average, analysts forecast that CONMED will post 4.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in CONMED by 497.4% in the 1st quarter. Fifth Third Bancorp now owns 70,623 shares of the company’s stock valued at $2,497,000 after purchasing an additional 58,801 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of CONMED by 4.0% during the first quarter. HB Wealth Management LLC now owns 16,620 shares of the company’s stock worth $588,000 after buying an additional 636 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of CONMED by 3.5% in the first quarter. New York State Teachers Retirement System now owns 47,170 shares of the company’s stock valued at $1,668,000 after buying an additional 1,578 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of CONMED by 14.4% in the first quarter. Janney Montgomery Scott LLC now owns 5,952 shares of the company’s stock valued at $210,000 after buying an additional 750 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of CONMED during the first quarter valued at approximately $484,000.

Key CONMED News

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q1 results beat expectations — CONMED reported $0.89 EPS vs. a $0.82 consensus and revenue of $317.1M vs. $310.6M expected; earnings/revenue beats support near-term sentiment and helped calm concerns about recent year-over-year softness. Q1 Earnings Release
• Positive Sentiment: Management raised the organic growth outlook and outlined strategic actions — CONMED now targets 2026 organic growth of roughly 5.0%–6.5%, is exiting the GI business to sharpen focus on higher-growth surgical platforms, and is pursuing debt refinancing to improve the capital structure; those moves aim to lift margins and growth quality over the medium term. Growth Outlook / Strategy
• Positive Sentiment: Analyst takeaways and call materials provide color on execution — sell-side coverage and the earnings call/transcript highlight the company’s plan to refocus and where management expects near-term pressure vs. longer-term upside. Earnings Call Highlights
• Neutral Sentiment: Coverage pieces and deep dives summarize the strategy shift — several outlets (MSN, Zacks, Seeking Alpha) detail the GI exit and segment focus; useful for modeling but not an immediate catalyst by itself. Deep Dive: GI Exit
• Negative Sentiment: Wells Fargo cut its price target to $39 (from $42) and set an “equal weight” rating — the new PT implies only modest upside (~6% at current levels), reducing the near-term analyst-driven upside. Wells Fargo PT Cut
• Negative Sentiment: JPMorgan cut its price target to $40 (from $43) with a “neutral” rating — another downward PT move that keeps analyst expectations conservative despite the earnings beat. JPMorgan PT Cut

About CONMED

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.