CONMED (NYSE:CNMD) Stock Rating Lowered by StockNews.com

CONMED (NYSE:CNMD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus decreased their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Piper Sandler decreased their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CONMED has an average rating of “Moderate Buy” and an average price target of $79.80.

CONMED Trading Down 1.8 %

NYSE CNMD opened at $73.43 on Friday. The stock has a market capitalization of $2.27 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.97 and a beta of 1.45. The business has a 50 day simple moving average of $69.63 and a 200 day simple moving average of $70.13. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED has a one year low of $61.05 and a one year high of $117.27.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Research analysts expect that CONMED will post 4.03 earnings per share for the current year.

Institutional Investors Weigh In On CONMED

Several hedge funds and other institutional investors have recently made changes to their positions in CNMD. GSA Capital Partners LLP boosted its stake in CONMED by 12.0% during the 1st quarter. GSA Capital Partners LLP now owns 9,540 shares of the company’s stock valued at $764,000 after purchasing an additional 1,021 shares during the last quarter. Duality Advisers LP boosted its position in shares of CONMED by 149.5% during the first quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock valued at $1,485,000 after buying an additional 11,110 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of CONMED during the first quarter valued at approximately $1,301,000. ProShare Advisors LLC grew its holdings in CONMED by 7.0% during the first quarter. ProShare Advisors LLC now owns 6,293 shares of the company’s stock worth $504,000 after buying an additional 413 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in CONMED by 22.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 317,994 shares of the company’s stock valued at $25,465,000 after buying an additional 58,959 shares during 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.