CONMED (NYSE:CNMD) PT Lowered to $107.00 at Needham & Company LLC

CONMED (NYSE:CNMDGet Free Report) had its target price cut by Needham & Company LLC from $129.00 to $107.00 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 objective indicates a potential upside of 53.13% from the stock’s current price.

A number of other brokerages also recently weighed in on CNMD. JPMorgan Chase & Co. lowered their target price on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Wells Fargo & Company decreased their price target on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Finally, Piper Sandler decreased their price target on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.29.

Get Our Latest Stock Analysis on CNMD

CONMED Trading Down 2.0 %

Shares of CNMD opened at $69.88 on Thursday. The business’s 50-day moving average price is $78.80 and its 200-day moving average price is $93.89. CONMED has a twelve month low of $69.78 and a twelve month high of $138.47. The stock has a market cap of $2.15 billion, a PE ratio of 34.25, a P/E/G ratio of 0.65 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMDGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. On average, equities analysts forecast that CONMED will post 4.34 EPS for the current fiscal year.

Institutional Trading of CONMED

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of CONMED during the 4th quarter valued at $40,000. Principal Securities Inc. purchased a new position in CONMED in the 4th quarter worth about $46,000. Headlands Technologies LLC purchased a new position in CONMED in the 3rd quarter worth about $64,000. Quadrant Capital Group LLC raised its position in CONMED by 44.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,631 shares of the company’s stock worth $179,000 after buying an additional 500 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its position in CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock worth $144,000 after buying an additional 745 shares during the last quarter.

CONMED Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CONMED (NYSE:CNMD)

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