BidaskClub upgraded shares of CONMED (NASDAQ:CNMD) from a sell rating to a hold rating in a research report report published on Friday, February 2nd.
Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of CONMED from a hold rating to a buy rating and set a $57.00 target price for the company in a report on Wednesday, January 3rd. Needham & Company LLC restated a buy rating and issued a $58.00 price objective on shares of CONMED in a report on Friday, November 17th. KeyCorp restated a hold rating on shares of CONMED in a report on Friday, November 3rd. Finally, Piper Jaffray Companies restated a hold rating and issued a $46.00 price objective on shares of CONMED in a report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.00.
CONMED (NASDAQ:CNMD) opened at $60.02 on Friday. CONMED has a 1-year low of $39.74 and a 1-year high of $64.99. The stock has a market cap of $1,678.55, a P/E ratio of 31.63, a PEG ratio of 2.44 and a beta of 0.74. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84.
CONMED (NASDAQ:CNMD) last released its earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 9.15%. The firm had revenue of $222.60 million during the quarter, compared to analyst estimates of $212.17 million. During the same period last year, the business earned $0.54 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. sell-side analysts predict that CONMED will post 2.14 EPS for the current fiscal year.
In other CONMED news, Director Jo Ann Golden sold 3,000 shares of CONMED stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $63.90, for a total value of $191,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luke A. Pomilio sold 18,023 shares of CONMED stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $63.38, for a total transaction of $1,142,297.74. The disclosure for this sale can be found here. 2.62% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in CONMED by 3.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock worth $103,000 after purchasing an additional 64 shares during the period. Quantbot Technologies LP bought a new stake in CONMED in the 3rd quarter worth approximately $133,000. Piedmont Investment Advisors LLC bought a new stake in CONMED in the 2nd quarter worth approximately $273,000. Crossmark Global Holdings Inc. bought a new stake in CONMED in the 3rd quarter worth approximately $281,000. Finally, OxFORD Asset Management LLP bought a new stake in CONMED in the 3rd quarter worth approximately $294,000. 98.49% of the stock is owned by institutional investors and hedge funds.
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CONMED Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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