CONMED Corporation (CNMD) is Reiterated by Needham to Buy, Raises Price Target to $ 49

CONMED Corporation (CNMD) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 49 from a previous price target of $48 . Needham advised their investors in a research report released on Apr 28, 2016.

On the company’s financial health, CONMED Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.34. The company had revenue of $181.20 million for the quarter, compared to analysts expectations of $179.91 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

CONMED Corporation opened for trading at $44.19 and hit $44.78 on the upside on Wednesday, eventually ending the session at $44.4, with a gain of 0.50% or 0.22 points. The heightened volatility saw the trading volume jump to 3,47,157 shares. Company has a market cap of $1,230 M.

In a different news, on Apr 4, 2016, Charles Farkas (director) purchased 338 shares at $42.05 per share price. According to the SEC, on Mar 7, 2016, Mark D Snyder (EVP Mfg. Ops & Business System) sold 2,940 shares at $41.32 per share price. On Mar 3, 2016, John L Workman (director) purchased 2,500 shares at $39.85 per share price, according to the Form-4 filing with the securities and exchange commission.

CONMED Corporation is a medical technology company. The Company 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 variety of specialties including orthopedics general surgery gynecology neurosurgery and gastroenterology. Its product lines consist of orthopedic surgery general surgery and surgical visualization. Orthopedic surgery consists of sports medicine instrumentation and small bone large bone and specialty powered surgical instruments. General surgery consists of a line of endo-mechanical instrumentation for minimally invasive laparoscopic and gastrointestinal procedures a line of cardiac monitoring products as well as electrosurgical generators and related instruments. Surgical visualization consists of 2D and 3D video systems for use in minimally invasive orthopedic and general surgery.

CONMED Corporation

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