CONMED Corporation (NYSE:CNMD) Receives $41.40 Average Price Target from Analysts

CONMED Corporation (NYSE:CNMD) has received an average recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $41.40.

CNMD has been the subject of several analyst reports. Weiss Ratings upgraded CONMED from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. Bank of America reissued an “underperform” rating and issued a $40.00 price objective on shares of CONMED in a report on Monday, June 29th. BMO Capital Markets initiated coverage on shares of CONMED in a research report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 price objective for the company. Finally, Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th.

Institutional Trading of CONMED

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of CONMED during the 2nd quarter worth about $157,783,000. Bank of America Corp DE acquired a new position in CONMED in the second quarter valued at about $43,904,000. Paradigm Capital Management Inc. NY purchased a new position in CONMED during the second quarter worth about $17,617,000. Invenomic Capital Management LP increased its position in shares of CONMED by 75.6% during the fourth quarter. Invenomic Capital Management LP now owns 737,546 shares of the company’s stock valued at $29,944,000 after acquiring an additional 317,543 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of CONMED during the second quarter valued at about $9,531,000.

CONMED Trading Up 0.0%

Shares of CONMED stock opened at $45.42 on Monday. The stock has a market cap of $1.36 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.07 and a beta of 0.90. The stock’s 50 day simple moving average is $47.39 and its 200-day simple moving average is $40.17. CONMED has a 1-year low of $31.44 and a 1-year high of $53.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69.

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

CONMED Company Profile

CONMED Corporation is a medical technology company that develops, manufactures and sells devices and equipment used in surgical procedures. Its products are designed primarily for orthopedic, general surgery and gastroenterology applications, supporting hospitals, ambulatory surgery centers and other healthcare providers.

The company’s product portfolio includes arthroscopy systems and instruments, powered surgical tools, electrosurgical devices, smoke evacuation equipment, patient care products and endoscopic technologies.