CONMED (CNMD) Lowered to Buy at BidaskClub

BidaskClub lowered shares of CONMED (NASDAQ:CNMD) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded CONMED from a sell rating to a hold rating in a research note on Friday, April 27th. Needham & Company LLC increased their target price on CONMED from $71.00 to $73.00 and gave the stock a buy rating in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $71.00.

Shares of CNMD stock traded up $0.32 during trading hours on Friday, reaching $76.42. The company had a trading volume of 86,746 shares, compared to its average volume of 169,353. CONMED has a twelve month low of $48.03 and a twelve month high of $83.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.15 and a current ratio of 1.97. The firm has a market cap of $2.14 billion, a P/E ratio of 40.43, a price-to-earnings-growth ratio of 3.05 and a beta of 0.55.



CONMED (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, August 1st. The medical technology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CONMED had a return on equity of 9.51% and a net margin of 8.85%. The firm had revenue of $212.80 million during the quarter, compared to analyst estimates of $207.12 million. During the same quarter last year, the firm earned $0.41 EPS. CONMED’s quarterly revenue was up 7.9% on a year-over-year basis. equities research analysts predict that CONMED will post 2.17 EPS for the current year.

In related news, EVP Daniel Jonas sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $79.73, for a total value of $318,920.00. Following the sale, the executive vice president now owns 20,347 shares of the company’s stock, valued at approximately $1,622,266.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Terence M. Berge sold 673 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $73.00, for a total value of $49,129.00. Following the completion of the sale, the vice president now directly owns 19,908 shares in the company, valued at approximately $1,453,284. The disclosure for this sale can be found here. Company insiders own 3.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CONMED by 72.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,926 shares of the medical technology company’s stock valued at $122,000 after acquiring an additional 807 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in CONMED during the 2nd quarter valued at $154,000. Hartford Investment Management Co. bought a new stake in CONMED during the 2nd quarter valued at $203,000. Pillar Pacific Capital Management LLC bought a new stake in CONMED during the 2nd quarter valued at $220,000. Finally, Meeder Asset Management Inc. raised its stake in CONMED by 423.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,112 shares of the medical technology company’s stock valued at $228,000 after acquiring an additional 2,518 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

Recommended Story: How to Track your Portfolio in Google Finance

Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply

Leave a Reply