Brokerages Set CONMED Corporation (NYSE:CNMD) Target Price at $41.40

Shares of CONMED Corporation (NYSE:CNMD) have been given an average recommendation of “Reduce” by the eight research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.40.

A number of equities analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $40.00 target price on shares of CONMED in a research report on Monday, June 29th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. BMO Capital Markets assumed coverage on CONMED in a report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 price objective on the stock. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th.

CONMED Stock Performance

CNMD stock opened at $51.52 on Thursday. CONMED has a twelve month low of $31.44 and a twelve month high of $56.63. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.33 and a beta of 0.88. The business’s fifty day simple moving average is $42.06 and its two-hundred day simple moving average is $39.54. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts predict that CONMED will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in shares of CONMED in the 4th quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in CONMED during the second quarter valued at about $27,000. Kelleher Financial Advisors bought a new stake in CONMED during the third quarter valued at about $28,000. Aster Capital Management DIFC Ltd grew its stake in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after purchasing an additional 581 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in CONMED by 210.8% in the second quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $37,000 after purchasing an additional 763 shares during the last quarter.

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.