Analysts Set CONMED Corporation (NYSE:CNMD) Price Target at $50.17

Shares of CONMED Corporation (NYSE:CNMD) have been given a consensus rating of “Reduce” by the eight research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $50.1667.

A number of research firms have weighed in on CNMD. Bank of America reduced their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Wells Fargo & Company raised CONMED to a “hold” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen downgraded CONMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st.

CONMED Trading Up 1.3%

NYSE:CNMD opened at $37.03 on Monday. The company has a 50-day moving average price of $40.87 and a 200-day moving average price of $43.28. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.60 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. CONMED has a 12 month low of $35.37 and a 12 month high of $61.25.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The company had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. During the same quarter in the previous year, the company earned $1.34 earnings per share. CONMED’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that CONMED will post 4.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in CONMED by 14.8% during the third quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock worth $83,000 after acquiring an additional 228 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of CONMED by 0.3% during the fourth quarter. WINTON GROUP Ltd now owns 78,887 shares of the company’s stock valued at $3,203,000 after purchasing an additional 260 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of CONMED by 3.3% during the third quarter. Amalgamated Bank now owns 9,129 shares of the company’s stock valued at $429,000 after purchasing an additional 294 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of CONMED by 48.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock valued at $42,000 after purchasing an additional 341 shares during the last quarter. Finally, Keeler Thomas Management LLC boosted its position in shares of CONMED by 1.6% in the 3rd quarter. Keeler Thomas Management LLC now owns 21,107 shares of the company’s stock worth $993,000 after purchasing an additional 342 shares in 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.