Could CONMED Corporation (CNMD) Lose its Strength? The Stock Reaches 52-Week High

May 17, 2018 - By Adrian Erickson

CONMED Corporation (NASDAQ:CNMD) Logo

Investors sentiment decreased to 1.3 in Q4 2017. Its down 0.04, from 1.34 in 2017Q3. It worsened, as 7 investors sold CONMED Corporation shares while 46 reduced holdings. 25 funds opened positions while 44 raised stakes. 26.91 million shares or 0.87% less from 27.14 million shares in 2017Q3 were reported.
Hudson Bay Management Lp reported 52,500 shares. Cap Rech Glob holds 995,014 shares. Alliancebernstein L P, New York-based fund reported 82,227 shares. Metropolitan Life Ins Ny reported 0.01% in CONMED Corporation (NASDAQ:CNMD). Jefferies Grp Ltd Company reported 3,921 shares. Jpmorgan Chase holds 0% or 83,297 shares. Public Sector Pension Investment Board accumulated 0.01% or 15,728 shares. Renaissance Tech Ltd Liability Corporation owns 19,000 shares for 0% of their portfolio. Ubs Asset Americas owns 12,660 shares for 0% of their portfolio. Parallax Volatility Advisers Limited Partnership has invested 0% in CONMED Corporation (NASDAQ:CNMD). 4,956 were reported by State Of Alaska Department Of Revenue. State Board Of Administration Of Florida Retirement System stated it has 0% in CONMED Corporation (NASDAQ:CNMD). New York State Common Retirement Fund invested 0% of its portfolio in CONMED Corporation (NASDAQ:CNMD). State Of Wisconsin Inv Board accumulated 127,562 shares. Deutsche Financial Bank Ag has invested 0% in CONMED Corporation (NASDAQ:CNMD).

Since January 3, 2018, it had 1 insider purchase, and 10 sales for $4.11 million activity. 18,023 shares valued at $1.14 million were sold by POMILIO LUKE A on Thursday, February 1. Farkas Charles bought $7,996 worth of stock or 158 shares. Shares for $286,497 were sold by Folkert Nathan. 2,000 CONMED Corporation (NASDAQ:CNMD) shares with value of $131,160 were sold by JONAS DANIEL. The insider Berge Terence M sold $241,574.

The stock of CONMED Corporation (NASDAQ:CNMD) hit a new 52-week high and has $74.37 target or 7.00 % above today’s $69.50 share price. The 9 months bullish chart indicates low risk for the $1.95 billion company. The 1-year high was reported on May, 17 by Barchart.com. If the $74.37 price target is reached, the company will be worth $136.43M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.03% or $0.71 during the last trading session, reaching $69.5. About 23,243 shares traded. CONMED Corporation (NASDAQ:CNMD) has risen 46.44% since May 17, 2017 and is uptrending. It has outperformed by 34.89% the S&P500.

Analysts await CONMED Corporation (NASDAQ:CNMD) to report earnings on July, 25. They expect $0.45 earnings per share, up 9.76 % or $0.04 from last year’s $0.41 per share. CNMD’s profit will be $12.62 million for 38.61 P/E if the $0.45 EPS becomes a reality. After $0.53 actual earnings per share reported by CONMED Corporation for the previous quarter, Wall Street now forecasts -15.09 % negative EPS growth.

CONMED Corporation (NASDAQ:CNMD) Ratings Coverage

Among 2 analysts covering Conmed Corp (NASDAQ:CNMD), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Conmed Corp has $7300 highest and $54.0 lowest target. $63.50’s average target is -8.63% below currents $69.5 stock price. Conmed Corp had 3 analyst reports since February 1, 2018 according to SRatingsIntel. On Thursday, February 1 the stock rating was maintained by Piper Jaffray with “Hold”. On Thursday, April 26 the stock rating was maintained by Needham with “Buy”. The rating was maintained by Needham on Thursday, February 1 with “Buy”.

More news for CONMED Corporation (NASDAQ:CNMD) were recently published by: Globenewswire.com, which released: “Market Trends Toward New Normal in Cohen & Steers, Achaogen, Ares Commercial Real Estate, CONMED, Marcus …” on May 02, 2018. Benzinga.com‘s article titled: “Benzinga’s Daily Biotech Pulse: Transenterix Rises, Mylan Earnings, Deutsche Bank Conference Underway” and published on May 09, 2018 is yet another important article.

CONMED Corporation, a medical technology company, develops, makes, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company has market cap of $1.95 billion. The firm offers sports medicine products, such as powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, metal and bio absorbable implants, and related disposable products and fluid management systems; powered surgical instruments for use in large and small bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; and sports biologics and tissues. It has a 35.28 P/E ratio. It also provides electrosurgical generators, hand pieces, smoke management systems, and accessories for surgical needs; and endomechanical instrumentation products that offer various instruments comprising trocars, suction irrigation devices, graspers, scissors, and dissectors used in the minimally invasive laparoscopic and gynecological surgery, as well as an uterine manipulator for use in the laparoscopic hysterectomies and other gynecologic laparoscopic procedures.

CONMED Corporation (NASDAQ:CNMD) Institutional Positions Chart

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