CONMED (NYSE:CNMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CONMED (NYSE:CNMD) from a hold rating to a buy rating in a report issued on Saturday.

Several other research firms have also weighed in on CNMD. Wells Fargo & Company lifted their price objective on CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. JPMorgan Chase & Co. reduced 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Finally, Bank of America cut their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Hold” and a consensus target price of $52.83.

CONMED Stock Up 0.4%

Shares of CNMD opened at $45.33 on Friday. CONMED has a one year low of $35.37 and a one year high of $64.87. The company has a market cap of $1.40 billion, a P/E ratio of 30.02, a P/E/G ratio of 1.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $41.33 and a two-hundred day simple moving average of $45.36.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The company had revenue of $373.20 million for the quarter, compared to the consensus estimate of $366.88 million. During the same quarter last year, the business posted $1.34 EPS. CONMED’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On CONMED

Several institutional investors have recently bought and sold shares of CNMD. Kelleher Financial Advisors bought a new position in CONMED during the 3rd quarter valued at $28,000. Kestra Advisory Services LLC bought a new position in shares of CONMED during the fourth quarter valued at about $26,000. Aster Capital Management DIFC Ltd boosted its holdings in CONMED by 409.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after purchasing an additional 581 shares during the last quarter. CWM LLC boosted its holdings in CONMED by 352.0% during the second quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after purchasing an additional 616 shares during the last quarter. Finally, Quarry LP grew its position in CONMED by 244.8% in the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares in the last quarter.

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.