Several analysts have recently updated their ratings and price targets for CONMED Corporation (NASDAQ: CNMD):

  • 8/5/2017 – CONMED Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/3/2017 – CONMED Corporation was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 7/28/2017 – CONMED Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the past three months CONMED Corporation has outperformed the broader industry trends in terms of price performance. CONMED offers a broad line of surgical products. The company’s product pipeline consists of several new devices including new sports medicine products,  endomechanical offerings, a new electrosurgical council and the latest 2D Arthroscopy video system. With increased product offerings, the company can accelerate its top line. The company has recently registered strong second-quarter results wherein adjusted earnings beat the Zacks Consensus Estimate, while revenues also did the same. On the flipside, foreign exchange movements have been unfavorably impacting the company’s results of late. Additionally, the company operates in a highly competitive environment which is likely to mar the top-line growth. Furthermore, a falling estimate revision trend for the current year indicates looming concerns ahead of the stock.”
  • 7/27/2017 – CONMED Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/27/2017 – CONMED Corporation had its price target raised by analysts at Needham & Company LLC from $54.00 to $57.00. They now have a “buy” rating on the stock.
  • 6/29/2017 – CONMED Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2017 – CONMED Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the past six months CONMED Corporation has outperformed the broader industry trends in terms of price performance. However, a falling estimate revision trend for the current year indicates looming concerns ahead of the stock. The company has recently registered strong first-quarter results wherein adjusted earnings beat the Zacks Consensus Estimate, while revenues also did the same. Foreign exchange movements have been unfavorably impacting the company’s results of late. Additionally, the company operates in a highly competitive environment which is likely to mar the top-line growth. Declining sales in the Orthopaedic surgery surgical visualization segment, especially in the U.S. in the last reported quarter is an added concern.”
  • 6/20/2017 – CONMED Corporation was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/10/2017 – CONMED Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of CONMED Corporation (CNMD) traded down 0.730% on Wednesday, reaching $49.635. The company’s stock had a trading volume of 117,797 shares. CONMED Corporation has a 12 month low of $37.60 and a 12 month high of $52.82. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 88.792 and a beta of 0.67. The stock has a 50 day moving average of $50.59 and a 200-day moving average of $47.07.

CONMED Corporation (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm 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 business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, analysts anticipate that CONMED Corporation will post $1.87 EPS for the current year.

In other CONMED Corporation news, Director Dirk Kuyper sold 1,000 shares of the 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 $561,005.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Jonas sold 3,000 shares of the 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 company insiders.

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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