Needham Sticks to Its Hold Rating for Conmed (CNMD)


In a report released today, Michael Matson from Needham maintained a Hold rating on Conmed (CNMD). The company’s shares closed last Monday at $82.34, close to its 52-week low of $76.46.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 2.4% and a 49.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Conmed with a $125.00 average price target.

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Based on Conmed’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $14.93 million. In comparison, last year the company had a net profit of $15.65 million.

Based on the recent corporate insider activity of 49 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. Most recently, in December 2019, Peter Shagory, the EVP, STRAT & CORP DEVT of CNMD sold 1,500 shares for a total of $166,530.

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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.

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