Brokerages Set CONMED Co. (NYSE:CNMD) PT at $79.80

Shares of CONMED Co. (NYSE:CNMD) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $79.80.

Several research firms have issued reports on CNMD. Piper Sandler cut their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price objective 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. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st.

Institutional Investors Weigh In On CONMED

A number of large investors have recently made changes to their positions in CNMD. Intech Investment Management LLC lifted its position in CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock worth $1,145,000 after acquiring an additional 10,187 shares during the period. Aurora Investment Counsel purchased a new position in shares of CONMED in the third quarter worth about $1,100,000. Natixis Advisors LLC lifted its holdings in shares of CONMED by 36.6% during the third quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock worth $7,977,000 after purchasing an additional 29,720 shares during the period. Zions Bancorporation N.A. boosted its position in CONMED by 19.0% in the third quarter. Zions Bancorporation N.A. now owns 12,279 shares of the company’s stock valued at $883,000 after buying an additional 1,962 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in CONMED in the third quarter valued at approximately $452,000.

CONMED Trading Down 1.8 %

NYSE:CNMD opened at $73.43 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The firm has a 50-day simple moving average of $69.63 and a 200-day simple moving average of $70.13. CONMED has a one year low of $61.05 and a one year high of $117.27. The firm has a market cap 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.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts anticipate that CONMED will post 4.03 EPS for the current fiscal year.

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.