CONMED (NYSE:CNMD) Given New $55.00 Price Target at Piper Sandler

CONMED (NYSE:CNMD) had its target price dropped by Piper Sandler from $68.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 29.90% from the stock’s previous close.

CNMD has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on CONMED from $57.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.20.

CONMED Trading Down 4.7%

Shares of NYSE CNMD traded down $2.10 during trading hours on Thursday, reaching $42.34. The stock had a trading volume of 223,836 shares, compared to its average volume of 455,138. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.59 and a beta of 1.14. The business’s fifty day moving average price is $48.63 and its two-hundred day moving average price is $51.99. CONMED has a 52-week low of $41.62 and a 52-week high of $78.00.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The firm had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.CONMED’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Analysts expect that CONMED will post 4.35 EPS for the current fiscal year.

Insider Activity at CONMED

In other news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the sale, the director directly owned 14,859 shares in the company, valued at $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNMD. GAMMA Investing LLC raised its position in shares of CONMED by 17.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock valued at $80,000 after buying an additional 225 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of CONMED by 4.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,462 shares of the company’s stock worth $330,000 after purchasing an additional 239 shares in the last quarter. Amalgamated Bank grew its stake in shares of CONMED by 3.3% during the third quarter. Amalgamated Bank now owns 9,129 shares of the company’s stock worth $429,000 after purchasing an additional 294 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of CONMED by 15.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock worth $133,000 after purchasing an additional 298 shares in the last quarter. Finally, Connable Office Inc. grew its stake in shares of CONMED by 5.7% during the first quarter. Connable Office Inc. now owns 6,092 shares of the company’s stock worth $368,000 after purchasing an additional 326 shares in the last quarter.

About CONMED

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.