CONMED (NYSE:CNMD – Get Rating)'s stock had its "maintains" rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

A number of other analysts have also commented on CNMD. Stifel Nicolaus dropped their price target on CONMED from $160.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 23rd. Piper Sandler reduced their price target on CONMED from $160.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, July 28th. Finally, TheStreet downgraded CONMED from a "b-" rating to a "c+" rating in a report on Tuesday, June 21st. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $118.33.

CONMED Trading Up 1.0 %

Shares of NYSE:CNMD traded up $0.99 during trading on Tuesday, reaching $98.56. 14,841 shares of the company traded hands, compared to its average volume of 370,856. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 50.80, a P/E/G ratio of 3.19 and a beta of 1.53. CONMED has a 52-week low of $87.24 and a 52-week high of $159.11. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The business's fifty day moving average is $100.28 and its 200-day moving average is $123.99.

Insiders Place Their Bets

In other CONMED news, CFO Todd W. Garner sold 2,662 shares of the firm's stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $99.79, for a total value of $265,640.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Todd W. Garner sold 2,662 shares of CONMED stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $99.79, for a total transaction of $265,640.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jerome J. Lande sold 6,000 shares of CONMED stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $115.42, for a total value of $692,520.00. Following the sale, the director now directly owns 3,928 shares in the company, valued at approximately $453,369.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,183 shares of company stock valued at $1,136,118. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On CONMED

A number of large investors have recently bought and sold shares of CNMD. Jennison Associates LLC purchased a new stake in shares of CONMED in the 4th quarter worth $44,198,000. Lord Abbett & CO. LLC acquired a new position in CONMED during the 1st quarter valued at about $37,445,000. Capital Research Global Investors increased its holdings in shares of CONMED by 10.1% in the fourth quarter. Capital Research Global Investors now owns 1,127,056 shares of the company's stock valued at $159,771,000 after purchasing an additional 103,061 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of CONMED in the first quarter valued at about $11,882,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of CONMED by 14.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 610,421 shares of the company's stock valued at $86,534,000 after purchasing an additional 75,933 shares during the period.

About CONMED

(Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

Read More

• Get a free copy of the StockNews.com research report on CONMED (CNMD)
• Amazon Names Itself A Top Stock Of Q3 Contender
• 3 Health Care Stocks in Great Financial Health
• The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
• Are Baidu's Delisting Fears a Good Entry for New Investors?
• Pinterest Shares Are Soaring After Earnings, Is The Stock A Buy?

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.