CONMED (NYSE:CNMD) Price Target Lowered to $91.00 at Needham & Company LLC

CONMED (NYSE:CNMD) had its target price decreased by analysts at Needham & Company LLC from $97.00 to $91.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 37.21% from the company’s current price.

A number of other research firms have also recently commented on CNMD. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $70.00 in a report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, CONMED has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Stock Down 1.5 %

Shares of CNMD stock opened at $66.32 on Thursday. CONMED has a 52-week low of $61.05 and a 52-week high of $88.60. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.04 and a beta of 1.46. The firm’s 50-day moving average is $70.37 and its 200-day moving average is $70.17. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 13.84% and a net margin of 10.23%. Sell-side analysts predict that CONMED will post 4.03 EPS for the current year.

Hedge Funds Weigh In On CONMED

Several institutional investors and hedge funds have recently modified their holdings of CNMD. GAMMA Investing LLC raised its stake in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares in the last quarter. CWM LLC increased its holdings in shares of CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares during the period. Pacer Advisors Inc. raised its position in shares of CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after buying an additional 485 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the period. Finally, nVerses Capital LLC grew its position in CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after buying an additional 1,700 shares in the last quarter.

CONMED Company Profile

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.