CONMED (NYSE:CNMD) Reaches New 12-Month Low – Should You Sell?

Shares of CONMED Corporation (NYSE:CNMD) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $36.30 and last traded at $36.78, with a volume of 312542 shares trading hands. The stock had previously closed at $38.69.

Key Stories Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q4 results: CONMED reported a quarter with revenue up ~7.9% year-over-year and an adjusted EPS and gross-margin beat; management cited surgical/orthopedic strength and international growth as drivers. Zacks: CONMED Stock Up Post Q4 Earnings
• Positive Sentiment: Analyst reaction: Wells Fargo raised its price target to $42 (equal weight), signaling some analyst support for the rebound potential. Benzinga: Wells Fargo Target Raise
• Neutral Sentiment: Full disclosure and detail available — multiple transcripts, the company press release and slide deck were published (useful for reviewing management commentary and any guidance). CONMED Press Release / Slide Deck
• Negative Sentiment: GAAP/operating nuance: some reports note a large divergence between GAAP metrics (lower GAAP EPS / net income and weaker operating profit year-over-year) and the adjusted beat, which raises questions about earnings quality and sustainability. QuiverQuant: Mixed Metrics
• Negative Sentiment: Insider and technical pressure: recent insider sales have been reported and the stock remains below its 50- and 200-day moving averages and near its 12‑month low, factors that can amplify downward moves despite the beat. MarketBeat: Trading / Technicals

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their target price on shares of CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a report on Thursday. Piper Sandler dropped their price target on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $52.83.

CONMED Trading Down 6.4%

The company’s fifty day simple moving average is $41.49 and its 200-day simple moving average is $46.49. The firm has a market capitalization of $1.12 billion, a PE ratio of 17.68, a P/E/G ratio of 1.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.11. The firm had revenue of $373.20 million during the quarter, compared to the consensus estimate of $366.88 million. CONMED had a net margin of 4.75% and a return on equity of 14.22%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. As a group, sell-side analysts expect that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Institutional investors have recently made changes to their positions in the company. Kelleher Financial Advisors acquired a new position in CONMED in the 3rd quarter valued at $28,000. CWM LLC grew its holdings in shares of CONMED by 352.0% during the second quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after buying an additional 616 shares in the last quarter. Quarry LP raised its position in shares of CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after buying an additional 617 shares during the last quarter. Huntington National Bank lifted its stake in shares of CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after buying an additional 466 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of CONMED in the second quarter worth about $48,000.

About CONMED

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.