CONMED (NYSE:CNMD) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

CONMED (NYSE:CNMD) had its price target increased by investment analysts at Stifel Nicolaus from $72.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 9.11% from the company’s current price.

Several other analysts also recently issued reports on CNMD. Wells Fargo & Company dropped their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC dropped their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $70.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Trading Down 7.1 %

Shares of NYSE:CNMD traded down $5.27 during midday trading on Thursday, hitting $68.74. The company had a trading volume of 462,689 shares, compared to its average volume of 416,090. CONMED has a 12 month low of $61.05 and a 12 month high of $88.60. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.04 and a beta of 1.46. The firm has a fifty day simple moving average of $70.64 and a 200 day simple moving average of $70.22.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 13.84% and a net margin of 10.23%. On average, analysts predict that CONMED will post 4.03 EPS for the current year.

Institutional Investors Weigh In On CONMED

A number of institutional investors have recently made changes to their positions in CNMD. GAMMA Investing LLC boosted its holdings in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares during the period. CWM LLC boosted its holdings in shares of CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after acquiring an additional 332 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after acquiring an additional 485 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after acquiring an additional 322 shares during the period. Finally, nVerses Capital LLC raised its position in shares of CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after buying an additional 1,700 shares in the last quarter.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.