Key Points
- Insider sale: Director Richard Glaze sold 257 CONMED shares on November 21 at an average price of $41.21 for a total of $10,590.97, disclosed in an SEC Form 4 filing.
- Recent results and guidance: CONMED beat Q3 estimates with $1.08 EPS (vs. $1.05) and $337.9M revenue (up 6.7% YoY), and set FY2025 guidance of $4.48–$4.53 EPS versus analysts' average forecast of about $4.35.
- Analyst sentiment: Several firms have cut price targets (Piper Sandler, Wells Fargo, JPMorgan) and MarketBeat shows a consensus rating of Hold with an average target price of $54.
CONMED Corporation (NYSE:CNMD - Get Free Report) insider Richard Glaze sold 257 shares of CONMED stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $41.21, for a total value of $10,590.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
CONMED Trading Up 1.3%
NYSE CNMD opened at $43.32 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $45.80 and a 200 day simple moving average of $51.06. CONMED Corporation has a 12 month low of $40.16 and a 12 month high of $78.00. The firm has a market capitalization of $1.34 billion, a P/E ratio of 12.27, a PEG ratio of 1.59 and a beta of 1.15.
CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The business's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. On average, analysts predict that CONMED Corporation will post 4.35 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of CONMED in a research report on Wednesday, October 8th. Piper Sandler decreased their price target on CONMED from $68.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company dropped their price target on CONMED from $57.00 to $47.00 and set an "equal weight" rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reduced their price objective on CONMED from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CONMED presently has a consensus rating of "Hold" and an average target price of $54.00.
Get Our Latest Stock Analysis on CONMED
Hedge Funds Weigh In On CONMED
Several hedge funds have recently made changes to their positions in CNMD. Vanguard Group Inc. grew its holdings in CONMED by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,610,906 shares of the company's stock valued at $169,821,000 after buying an additional 62,917 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CONMED by 19.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company's stock worth $60,984,000 after acquiring an additional 214,126 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of CONMED by 41.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,237,735 shares of the company's stock valued at $74,747,000 after purchasing an additional 360,336 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of CONMED by 36.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,174,032 shares of the company's stock valued at $70,900,000 after purchasing an additional 311,288 shares during the last quarter. Finally, Wasatch Advisors LP bought a new position in shares of CONMED during the 3rd quarter valued at $47,026,000.
CONMED Company Profile
(
Get Free Report)
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.
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