TheStreet upgraded shares of CONMED Corporation (NASDAQ:CNMD) from a c+ rating to a b- rating in a report published on Thursday.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of CONMED Corporation from a hold rating to a sell rating in a research report on Friday, July 28th. BidaskClub lowered shares of CONMED Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Needham & Company LLC increased their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the company a buy rating in a research report on Thursday, July 27th. Finally, Ladenburg Thalmann Financial Services lowered shares of CONMED Corporation from a buy rating to a neutral rating and lowered their price target for the company from $50.00 to $48.00 in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. CONMED Corporation currently has a consensus rating of Hold and a consensus target price of $49.33.
CONMED Corporation (CNMD) traded up 1.31% on Thursday, reaching $49.37. 159,050 shares of the company’s stock were exchanged. CONMED Corporation has a 12-month low of $37.60 and a 12-month high of $52.82. The company has a market cap of $1.38 billion, a P/E ratio of 88.32 and a beta of 0.67. The firm has a 50 day moving average of $50.81 and a 200-day moving average of $47.03.
CONMED Corporation (NASDAQ:CNMD) last released its quarterly earnings results on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $197.20 million for the quarter, compared to analyst estimates of $194.50 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that CONMED Corporation will post $1.87 EPS for the current fiscal year.
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In related news, EVP Daniel Jonas sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $51.22, for a total transaction of $153,660.00. Following the transaction, the executive vice president now owns 14,455 shares of the company’s stock, valued at $740,385.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dirk Kuyper sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total transaction of $52,240.00. Following the transaction, the director now directly owns 10,739 shares in the company, valued at approximately $561,005.36. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp purchased a new position in shares of CONMED Corporation during the first quarter valued at about $202,000. UBS Asset Management Americas Inc. increased its position in CONMED Corporation by 63.2% in the first quarter. UBS Asset Management Americas Inc. now owns 12,543 shares of the medical technology company’s stock worth $557,000 after buying an additional 4,859 shares in the last quarter. Comerica Bank increased its position in CONMED Corporation by 4.1% in the first quarter. Comerica Bank now owns 27,528 shares of the medical technology company’s stock worth $1,354,000 after buying an additional 1,080 shares in the last quarter. Bank of New York Mellon Corp increased its position in CONMED Corporation by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 419,536 shares of the medical technology company’s stock worth $18,632,000 after buying an additional 18,243 shares in the last quarter. Finally, First Trust Advisors LP increased its position in CONMED Corporation by 81.5% in the first quarter. First Trust Advisors LP now owns 19,109 shares of the medical technology company’s stock worth $849,000 after buying an additional 8,582 shares in the last quarter. 99.77% of the stock is currently owned by institutional investors and hedge funds.
About CONMED Corporation
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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