CONMED (NYSE:CNMD) Price Target Cut to $95.00

CONMED (NYSE:CNMD) had its price objective decreased by equities researchers at Piper Sandler from $100.00 to $95.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 44.38% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Wells Fargo & Company decreased their price objective on CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price objective on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Needham & Company LLC decreased their price objective on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

CONMED Trading Up 6.3 %

Shares of CNMD opened at $65.80 on Thursday. The business’s 50-day moving average price is $78.06 and its 200 day moving average price is $93.44. The stock has a market capitalization of $2.03 billion, a P/E ratio of 25.21, a P/E/G ratio of 0.63 and a beta of 1.33. CONMED has a 1-year low of $61.05 and a 1-year high of $138.47. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. CONMED had a return on equity of 13.99% and a net margin of 6.53%. The firm had revenue of $312.27 million for the quarter, compared to analysts’ expectations of $307.06 million. Analysts expect that CONMED will post 4.34 earnings per share for the current year.

Institutional Investors Weigh In On CONMED

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in CONMED by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after purchasing an additional 121 shares during the last quarter. Olympiad Research LP lifted its holdings in CONMED by 5.9% in the 4th quarter. Olympiad Research LP now owns 2,410 shares of the company’s stock worth $264,000 after purchasing an additional 134 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in CONMED by 4.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock worth $312,000 after purchasing an additional 140 shares during the last quarter. Franklin Resources Inc. lifted its holdings in CONMED by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 14,966 shares of the company’s stock worth $1,639,000 after purchasing an additional 140 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in CONMED by 2.7% in the 4th quarter. QRG Capital Management Inc. now owns 5,900 shares of the company’s stock worth $646,000 after purchasing an additional 154 shares during the last quarter.

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.