CONMED Corporation (NASDAQ:CNMD) has received an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $52.50.

A number of equities research analysts recently commented on the stock. Needham & Company LLC upped their price target on shares of CONMED Corporation from $48.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 27th. BidaskClub upgraded shares of CONMED Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a report on Thursday, August 3rd. 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 report on Thursday, April 27th. Finally, Zacks Investment Research upgraded shares of CONMED Corporation from a “sell” rating to a “hold” rating in a report on Friday, April 28th.

In other CONMED Corporation news, Director Dirk Kuyper sold 1,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $561,005.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the business’s stock in a transaction 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 directly owns 14,455 shares in the company, valued at $740,385.10. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of CONMED Corporation by 46,036.5% in the first quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock worth $140,043,000 after buying an additional 3,146,592 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of CONMED Corporation by 12.9% in the first quarter. Victory Capital Management Inc. now owns 2,150,886 shares of the medical technology company’s stock worth $95,521,000 after buying an additional 245,246 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of CONMED Corporation by 16.4% in the first quarter. Champlain Investment Partners LLC now owns 1,728,445 shares of the medical technology company’s stock worth $76,760,000 after buying an additional 243,610 shares during the last quarter. Epoch Investment Partners Inc. bought a new position in shares of CONMED Corporation during the first quarter worth about $9,447,000. Finally, Norges Bank bought a new position in shares of CONMED Corporation during the fourth quarter worth about $9,236,000. 99.75% of the stock is currently owned by institutional investors and hedge funds.

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CONMED Corporation (NASDAQ:CNMD) traded up 0.77% during midday trading on Friday, hitting $50.00. 144,611 shares of the stock traded hands. The stock’s 50-day moving average price is $50.58 and its 200 day moving average price is $47.07. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 89.45 and a beta of 0.67. CONMED Corporation has a 52 week low of $37.60 and a 52 week high of $52.82.

CONMED Corporation (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, July 26th. The medical technology company reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The company had revenue of $197.20 million during the quarter, compared to analyst estimates of $194.50 million. During the same period in the prior year, the business posted $0.47 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that CONMED Corporation will post $1.87 EPS for the current year.

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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