Brokerages Set CONMED Corporation (NYSE:CNMD) PT at $41.40

CONMED Corporation (NYSE:CNMD) has earned an average recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $41.40.

CNMD has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price objective on CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Weiss Ratings upgraded CONMED from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Bank of America reiterated an “underperform” rating and set a $40.00 price target on shares of CONMED in a report on Monday, June 29th. Finally, Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th.

Hedge Funds Weigh In On CONMED

A number of institutional investors have recently bought and sold shares of CNMD. AQR Capital Management LLC raised its position in shares of CONMED by 19.9% during the 1st quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock valued at $857,000 after buying an additional 2,357 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CONMED by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock worth $1,108,000 after acquiring an additional 800 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in CONMED by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock worth $4,993,000 after acquiring an additional 4,565 shares during the period. Intech Investment Management LLC increased its stake in CONMED by 34.6% during the first quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock worth $1,359,000 after acquiring an additional 5,780 shares during the last quarter. Finally, Creative Planning acquired a new stake in CONMED during the second quarter worth $310,000.

CONMED Trading Down 0.2%

CNMD opened at $51.27 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. The company’s 50 day simple moving average is $41.71 and its two-hundred day simple moving average is $39.45. CONMED has a 1-year low of $31.44 and a 1-year high of $56.63. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88.

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

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.