Conmed Corp. [NYSE: CNMD] loss -11.58% or -8.11 points to close at $61.90 with a heavy trading volume of 2596621 shares.
The daily chart for CNMD points out that the company has recorded -34.59% loss over the past six months.
If we look at the average trading volume of 566.34K shares, CNMD reached to a volume of 2596621 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Conmed Corp. [CNMD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNMD shares is $111.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNMD stock is a recommendation set at 1.88. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Conmed Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2024. While these analysts kept the previous recommendation, CL King raised their target price to Buy. The new note on the price target was released on May 22, 2023, representing the official price target for Conmed Corp. stock. Previously, the target price had yet another raise to $124, while KeyBanc Capital Markets analysts kept a Overweight rating on CNMD stock.
The Average True Range (ATR) for Conmed Corp. is set at 2.76, with the Price to Sales ratio for CNMD stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 0.79. Price to Free Cash Flow for CNMD in the course of the last twelve months was 17.93 with Quick ratio for the last quarter at 0.96.
Trading performance analysis for CNMD stock
Conmed Corp. [CNMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.92. With this latest performance, CNMD shares dropped by -19.70% in over the last four-week period, additionally sinking by -34.59% over the last 6 months – not to mention a drop of -46.28% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNMD stock in for the last two-week period is set at 22.37, with the RSI for the last a single of trading hit 17.44, and the three-weeks RSI is set at 25.97 for Conmed Corp. [CNMD]. The present Moving Average for the last 50 days of trading for this stock 78.48, while it was recorded at 69.69 for the last single week of trading, and 99.09 for the last 200 days.
Conmed Corp. [CNMD]: A deeper dive into fundamental analysis
Conmed Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 1.98.
Conmed Corp. [CNMD]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNMD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Conmed Corp. go to 25.40%.
An analysis of Institutional ownership at Conmed Corp. [CNMD]
The top three institutional holders of CNMD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CNMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CNMD stock with ownership which is approximately 5.8386%.
