Barclays analyst Kristen Stewart maintained a Buy rating on Conmed (CNMD) yesterday and set a price target of $110.00. The company’s shares closed last Monday at $71.85.
According to TipRanks.com, Stewart is a 3-star analyst with an average return of 1.6% and a 61.2% success rate. Stewart covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Baxter International, and Edwards Lifesciences.
Currently, the analyst consensus on Conmed is a Strong Buy with an average price target of $95.00.
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Based on Conmed’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $265 million and net profit of $14.93 million. In comparison, last year the company earned revenue of $242 million and had a net profit of $15.65 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CNMD in relation to earlier this year.
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CONMED Corp. operates as a medical technology company, which engages in the development, manufacture and sale of surgical devices and related equipment. It operates through the following geographical segments: United States; Americas excluding the United States; Europe, Middle East, and Africa; and Asia Pacific. Its product lines also include orthopedic surgey and general surgery. The company was founded by Eugene R. Corasanti in 1970 and is headquartered in Utica, NY.
