CONMED (NYSE:CNMD) Receives Buy Rating from Needham & Company LLC

CONMED (NYSE:CNMD)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $97.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 48.64% from the stock’s current price.

CNMD has been the subject of several other reports. StockNews.com raised CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler reduced their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, CONMED presently has an average rating of “Moderate Buy” and an average price target of $79.80.

CONMED Stock Up 0.9 %

CNMD stock opened at $65.26 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.34 and a quick ratio of 1.13. The stock has a market capitalization of $2.01 billion, a P/E ratio of 25.00, a P/E/G ratio of 0.82 and a beta of 1.46. The business has a 50-day moving average of $69.55 and a 200-day moving average of $70.17. CONMED has a fifty-two week low of $61.05 and a fifty-two week high of $117.27.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.89% and a net margin of 7.73%. On average, sell-side analysts anticipate that CONMED will post 3.99 earnings per share for the current fiscal year.

Institutional Trading of CONMED

Institutional investors and hedge funds have recently bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new stake in CONMED in the second quarter valued at approximately $39,000. Innealta Capital LLC bought a new position in shares of CONMED during the second quarter worth approximately $41,000. Hilltop National Bank increased its stake in shares of CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the period. CWM LLC increased its stake in shares of CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after purchasing an additional 1,700 shares during the period.

About CONMED

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.