CONMED (NYSE:CNMD) Upgraded at Wall Street Zen

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

A number of other analysts have also commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. BMO Capital Markets initiated coverage on shares of CONMED in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 target price for the company. Zacks Research lowered shares of CONMED from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wells Fargo & Company set a $39.00 price target on shares of CONMED in a research report on Monday, July 13th. Finally, Bank of America restated an “underperform” rating and set a $40.00 price objective on shares of CONMED in a research note on Monday, June 29th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $38.80.

CONMED Stock Up 0.2%

Shares of CONMED stock opened at $41.98 on Monday. The firm has a market cap of $1.26 billion, a PE ratio of 23.71, a P/E/G ratio of 3.10 and a beta of 0.93. The business’s 50 day simple moving average is $36.22 and its 200 day simple moving average is $38.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.04 and a current ratio of 2.29. CONMED has a 52-week low of $31.44 and a 52-week high of $56.63.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 13.84% and a net margin of 4.00%.The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. On average, analysts predict that CONMED will post 4.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CONMED

Large investors have recently made changes to their positions in the stock. Wasatch Advisors LP acquired a new stake in CONMED in the third quarter valued at $47,026,000. Invenomic Capital Management LP increased its stake in shares of CONMED by 75.6% during the 4th quarter. Invenomic Capital Management LP now owns 737,546 shares of the company’s stock worth $29,944,000 after purchasing an additional 317,543 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of CONMED by 217.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company’s stock worth $14,819,000 after purchasing an additional 287,150 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CONMED in the 4th quarter valued at about $9,029,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CONMED by 19.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock valued at $60,984,000 after purchasing an additional 214,126 shares during the period.

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.