CONMED (NYSE:CNMD) Price Target Lowered to $91.00 at Needham & Company LLC

CONMED (NYSE:CNMD) had its price target decreased by investment analysts at Needham & Company LLC from $97.00 to $91.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 22.39% from the stock’s previous close.

CNMD has been the topic of several other research reports. JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $70.00 in a report on Thursday. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.60.

CONMED Stock Up 2.0 %

Shares of NYSE CNMD opened at $74.35 on Thursday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.04 and a beta of 1.46. 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 50-day moving average price of $70.64 and a two-hundred day moving average price of $70.22. CONMED has a 12 month low of $61.05 and a 12 month high of $88.60.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, analysts forecast that CONMED will post 4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the period. Connable Office Inc. lifted its holdings in CONMED by 18.2% during the fourth quarter. Connable Office Inc. now owns 5,766 shares of the company’s stock valued at $395,000 after purchasing an additional 888 shares during the last quarter. Fisher Asset Management LLC boosted its position in CONMED by 41.4% during the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock worth $28,569,000 after purchasing an additional 122,140 shares during the period. Proficio Capital Partners LLC bought a new position in CONMED in the 4th quarter worth approximately $909,000. Finally, Illinois Municipal Retirement Fund grew its position in shares of CONMED by 3.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 16,514 shares of the company’s stock valued at $1,130,000 after purchasing an additional 566 shares in the last quarter.

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.