Exclusive: What’s Next for CONMED Corporation After Today’s Significant Increase?

Exclusive: What's Next for CONMED Corporation After Today's Significant Increase?

The stock of CONMED Corporation (NASDAQ:CNMD) is a huge mover today! About 118,213 shares traded hands. CONMED Corporation (NASDAQ:CNMD) has risen 3.34% since April 18, 2016 and is uptrending. It has underperformed by 1.09% the S&P500.
The move comes after 9 months positive chart setup for the $1.28 billion company. It was reported on Nov, 18 by Barchart.com. We have $55.16 PT which if reached, will make NASDAQ:CNMD worth $268.80M more.

CONMED Corporation (NASDAQ:CNMD) Ratings Coverage

Out of 4 analysts covering CONMED Corporation (NASDAQ:CNMD), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. CONMED Corporation has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Friday, November 18, the company rating was maintained by Needham. The stock has “Neutral” rating given by Piper Jaffray on Thursday, August 27. The stock of CONMED Corporation (NASDAQ:CNMD) earned “Market Perform” rating by Northland Capital on Thursday, October 22. The firm has “Outperform” rating by Leerink Swann given on Monday, October 5. Ladenburg Thalmann upgraded CONMED Corporation (NASDAQ:CNMD) on Monday, October 12 to “Buy” rating. The stock has “Market Perform” rating given by Northland Capital on Wednesday, July 22. The company was maintained on Thursday, April 28 by Needham.

According to Zacks Investment Research, “CONMED Corporation is a medical technology company specializing in instruments and implants for arthroscopic sports medicine, and powered surgical instruments, such as drills and saws, for orthopaedic, ENT and neurosurgery. The company is also a leading developer, manufacturer and supplier of advanced medical devices, including electrosurgical systems, electrodes for heart monitoring. The company’s products are used in a variety of clinical settings, such as operating rooms, surgery centers, physicians’ offices and critical care areas of hospitals.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in 2016 Q2. Its down 0.29, from 1.14 in 2016Q1. The ratio is negative, as 19 funds sold all CONMED Corporation shares owned while 44 reduced positions. 21 funds bought stakes while 51 increased positions. They now own 27.29 million shares or 1.46% more from 26.90 million shares in 2016Q1.
American Intl Inc accumulated 20,226 shares or 0% of the stock. Rothschild Asset Inc has invested 0.03% of its portfolio in CONMED Corporation (NASDAQ:CNMD). Metropolitan Life Insur holds 0.01% or 21,670 shares in its portfolio. Lord Abbett And Communication Limited Liability Company last reported 461,230 shares in the company. Moreover, Aperio Group Inc Ltd Llc has 0% invested in CONMED Corporation (NASDAQ:CNMD) for 5,337 shares. Apriem Advsrs, a California-based fund reported 406 shares. Massachusetts Fincl Ma has 55,664 shares for 0% of their US portfolio. First Mercantile Tru last reported 0.02% of its portfolio in the stock. Keybank Association Oh accumulated 29,091 shares or 0.01% of the stock. Tiaa Cref Investment Mgmt Limited Liability last reported 86,656 shares in the company. Geode Management Ltd Liability Company owns 183,900 shares or 0% of their US portfolio. Bankshares Of Ny Mellon Corporation has 0.01% invested in the company for 359,872 shares. Moreover, Netols Asset has 1.61% invested in CONMED Corporation (NASDAQ:CNMD) for 149,159 shares. Voya Investment Mngmt Ltd Liability Corp holds 0% of its portfolio in CONMED Corporation (NASDAQ:CNMD) for 12,518 shares. Gamco Incorporated Et Al last reported 0.03% of its portfolio in the stock.

Insider Transactions: Since June 3, 2016, the stock had 2 insider purchases, and 3 sales for $321,814 net activity. JONAS DANIEL sold $62,663 worth of stock. Another trade for 4,400 shares valued at $182,881 was sold by POMILIO LUKE A. Shares for $13,453 were bought by Farkas Charles.

More notable recent CONMED Corporation (NASDAQ:CNMD) news were published by: Businesswire.com which released: “CONMED Corporation Announces Third Quarter 2016 Financial Results” on October 27, 2016, also Businesswire.com with their article: “CONMED Corporation Announces Second Quarter 2016 Financial Results” published on July 27, 2016, Businesswire.com published: “CONMED Corporation Announces Fourth Quarter and Fiscal Year 2015 Financial Results” on January 27, 2016. More interesting news about CONMED Corporation (NASDAQ:CNMD) were released by: Businesswire.com and their article: “CONMED Corporation Adds Health Care Executive Martha Goldberg Aronson to its …” published on February 23, 2016 as well as Businesswire.com‘s news article titled: “CONMED Corporation Announces First Quarter 2016 Financial Results” with publication date: April 27, 2016.

CNMD Company Profile

CONMED Corporation, incorporated on February 10, 1970, is a medical technology company. The Firm is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology. The Company’s product lines consist of orthopedic surgery, general surgery and surgical visualization. The Company’s products are distributed domestically directly to over 6,000 hospitals and other healthcare institutions, as well as through medical specialty distributors.

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