Needham Sticks to Its Hold Rating for Conmed (CNMD)

Needham analyst Michael Matson maintained a Hold rating on Conmed (CNMDResearch Report) today. The company’s shares closed last Wednesday at $139.12, close to its 52-week high of $146.95.

According to, Matson is a 5-star analyst with an average return of 17.4% and a 69.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Cardiovascular Systems.

Currently, the analyst consensus on Conmed is a Moderate Buy with an average price target of $167.50.

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Based on Conmed’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $233 million and net profit of $9.86 million. In comparison, last year the company earned revenue of $214 million and had a net profit of $5.93 million.

Based on the recent corporate insider activity of 59 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.

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