CONMED (NYSE:CNMD) Rating Lowered to Strong Sell at Zacks Research

CONMED (NYSE:CNMD) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on CNMD. JPMorgan Chase & Co. lowered their price objective on CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Piper Sandler decreased their price target on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. Bank of America cut their price objective on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Finally, Wells Fargo & Company decreased their target price on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $53.67.

CONMED Stock Performance

Shares of CNMD stock opened at $40.53 on Thursday. CONMED has a 52 week low of $38.32 and a 52 week high of $74.70. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.68 and a beta of 0.98. The company has a 50-day simple moving average of $42.33 and a 200 day simple moving average of $47.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 2.10.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. CONMED had a net margin of 4.75% and a return on equity of 14.22%. The firm had revenue of $337.93 million during the quarter, compared to the consensus estimate of $334.76 million. During the same period last year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. On average, sell-side analysts predict that CONMED will post 4.35 earnings per share for the current year.

Institutional Trading of CONMED

Institutional investors and hedge funds have recently made changes to their positions in the company. Keeler Thomas Management LLC bought a new position in CONMED in the second quarter valued at about $1,081,000. Dynamic Technology Lab Private Ltd bought a new position in CONMED in the 2nd quarter valued at approximately $659,000. Aurora Investment Counsel boosted its position in CONMED by 39.3% during the 2nd quarter. Aurora Investment Counsel now owns 24,580 shares of the company’s stock worth $1,280,000 after buying an additional 6,930 shares during the period. Nordea Investment Management AB grew its holdings in CONMED by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 75,441 shares of the company’s stock worth $3,948,000 after acquiring an additional 520 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in CONMED in the 2nd quarter valued at approximately $1,002,000.

CONMED Company Profile

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.