Wells Fargo & Company Forecasts Strong Price Appreciation for CONMED (NYSE:CNMD) Stock

CONMED (NYSE:CNMD) had its price target raised by equities researchers at Wells Fargo & Company from $39.00 to $46.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 0.81% from the company’s previous close.

A number of other brokerages have also commented on CNMD. JPMorgan Chase & Co. decreased their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Bank of America reaffirmed an “underperform” rating and set a $40.00 price target on shares of CONMED in a research note on Monday, June 29th. BMO Capital Markets initiated coverage on CONMED in a report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price target on the stock. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $41.40.

CONMED Trading Down 1.3%

Shares of NYSE CNMD opened at $46.38 on Thursday. CONMED has a 1-year low of $31.44 and a 1-year high of $56.63. The company has a 50-day moving average of $37.27 and a two-hundred day moving average of $38.48. The company has a market cap of $1.39 billion, a PE ratio of 25.07, a P/E/G ratio of 3.35 and a beta of 0.93. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.11 by $0.27. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The business had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. During the same period in the prior year, the firm earned $1.15 earnings per share. CONMED’s revenue was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, equities analysts expect that CONMED will post 4.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CONMED

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in CONMED during the fourth quarter worth about $26,000. Kelleher Financial Advisors acquired a new stake in shares of CONMED during the third quarter worth about $28,000. Aster Capital Management DIFC Ltd raised its position in shares of 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 period. Versant Capital Management Inc lifted its holdings in shares of CONMED by 210.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $37,000 after purchasing an additional 763 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after purchasing an additional 617 shares in the last quarter.

More CONMED News

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Q2 results exceeded expectations. CONMED reported adjusted EPS of $1.38, above the $1.10 consensus estimate and up from $1.15 a year earlier. Revenue reached $343.5 million, surpassing the $337.6 million forecast. CONMED Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised and reaffirmed an above-consensus outlook. CONMED forecast 2026 adjusted EPS of $4.48 to $4.60, compared with analyst expectations near $4.37, while targeting 5% to 6% organic growth. Gross-margin expansion and solid international sales also supported the improved outlook. CONMED 2026 Guidance
• Positive Sentiment: Analysts increased price targets. Wells Fargo raised its target to $46 from $39, and Piper Sandler lifted its target to $45 from $39, reflecting greater confidence following the quarterly performance. Analyst Price Target Changes
• Neutral Sentiment: Management’s earnings presentation and call highlighted the quarter’s operating performance and 2026 growth priorities. The materials provide additional detail on the earnings beat, margins and guidance but do not indicate a major change to the company’s longer-term strategy. CONMED 2026 Q2 Earnings Presentation
• Negative Sentiment: Valuation and limited analyst upside may be weighing on the stock. Piper Sandler maintained a Neutral rating with a $45 target, while Wells Fargo kept an Equal Weight rating at $46—both below or near the recent trading level. Revenue growth was also modest at approximately 0.3% year over year, despite the earnings beat.

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.