CONMED Corporation (NYSE:CNMD) Stock Rated “Reduce” by Wall Street Analysts

CONMED Corporation (NYSE:CNMD) has been given an average rating of “Reduce” by the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $41.40.

Several analysts recently issued reports on CNMD shares. Wall Street Zen raised shares of CONMED from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Bank of America restated an “underperform” rating and set a $40.00 price objective on shares of CONMED in a report on Monday, June 29th. Weiss Ratings cut shares of CONMED from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets began coverage on shares of CONMED in a research report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 target price for the company.

Hedge Funds Weigh In On CONMED

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in CONMED during the 2nd quarter worth approximately $157,783,000. Dimensional Fund Advisors LP lifted its holdings in shares of CONMED by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock valued at $49,250,000 after purchasing an additional 80,116 shares in the last quarter. Bank of America Corp DE bought a new position in shares of CONMED in the second quarter valued at approximately $43,904,000. Invenomic Capital Management LP lifted its holdings in shares of CONMED by 75.6% in the fourth quarter. Invenomic Capital Management LP now owns 737,546 shares of the company’s stock valued at $29,944,000 after purchasing an additional 317,543 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CONMED by 39.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company’s stock valued at $20,705,000 after buying an additional 166,301 shares during the last quarter.

CONMED Trading Up 0.2%

NYSE CNMD opened at $45.45 on Friday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 2.07 and a beta of 0.94. CONMED has a 52 week low of $31.44 and a 52 week high of $53.66. The business has a 50 day moving average price of $47.84 and a 200-day moving average price of $41.04. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%. The company had revenue of $343.49 million for the quarter, compared to analyst estimates of $337.60 million. During the same period in the prior year, the firm earned $1.15 earnings per share. CONMED’s revenue for the quarter was up .3% on a year-over-year basis. 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.

About CONMED

CONMED Corporation (NYSE: CNMD) is a medical technology company that develops, manufactures and markets products used in minimally invasive surgical procedures. Its offerings support healthcare providers across a range of specialties, including general surgery, gastroenterology, pulmonology, gynecology, orthopedics and sports medicine.

The company’s products include advanced surgical devices and systems, electrosurgical equipment, smoke evacuation systems, endoscopic instruments, powered surgical tools, and orthopedic products used in arthroscopic and reconstructive procedures.