Conmed Corp. (NYSE: CNMD)’s stock price has dropped by -6.50 in relation to previous closing price of 69.04. Nevertheless, the company has seen a loss of -8.57% in its stock price over the last five trading days. seekingalpha.com reported 2024-07-31 that CONMED Corporation (NYSE:CNMD ) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Curt Hartman – Chair of the Board, President and Chief Executive Officer Todd Garner – Executive Vice President and Chief Financial Officer Pat Beyer – Chief Operating Officer Conference Call Participants Rick Wise – Stifel Robbie Marcus – JPMorgan Dino Weinstock – Wells Fargo Travis Steed – BofA Mike Matson – Needham Kristen Stewart – CL King Operator Good day, and thank you for standing by. Welcome to CONMED’s Second Quarter Fiscal 2024 Earnings Conference Call.
Is It Worth Investing in Conmed Corp. (NYSE: CNMD) Right Now?
Conmed Corp. (NYSE: CNMD) has a higher price-to-earnings ratio of 24.72x compared to its average ratio, The 36-month beta value for CNMD is at 1.42. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for CNMD is 30.21M, and currently, shorts hold a 13.40% of that float. The average trading volume for CNMD on August 01, 2024 was 435.48K shares.
CNMD’s Market Performance
The stock of Conmed Corp. (CNMD) has seen a -8.57% decrease in the past week, with a -3.71% drop in the past month, and a -5.55% fall in the past quarter. The volatility ratio for the week is 3.63%, and the volatility levels for the past 30 days are at 4.01% for CNMD. The simple moving average for the past 20 days is -7.24% for CNMD’s stock, with a -24.92% simple moving average for the past 200 days.
Analysts’ Opinion of CNMD
Many brokerage firms have already submitted their reports for CNMD stocks, with Needham repeating the rating for CNMD by listing it as a “Buy.” The predicted price for CNMD in the upcoming period, according to Needham is $129 based on the research report published on February 01, 2024 of the current year 2024.
CL King, on the other hand, stated in their research note that they expect to see CNMD reach a price target of $140. The rating they have provided for CNMD stocks is “Buy” according to the report published on May 22nd, 2023.
KeyBanc Capital Markets gave a rating of “Overweight” to CNMD, setting the target price at $124 in the report published on March 27th of the previous year.
CNMD Trading at -9.40% from the 50-Day Moving Average
After a stumble in the market that brought CNMD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -46.19% of loss for the given period.
Volatility was left at 4.01%, however, over the last 30 days, the volatility rate increased by 3.63%, as shares sank -5.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.36% lower at present.
During the last 5 trading sessions, CNMD fell by -9.92%, which changed the moving average for the period of 200-days by -31.74% in comparison to the 20-day moving average, which settled at $69.40. In addition, Conmed Corp. saw -41.06% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CNMD starting from Peters Stanley W III, who sale 4,000 shares at the price of $71.82 back on Jun 14 ’24. After this action, Peters Stanley W III now owns 63 shares of Conmed Corp., valued at $287,280 using the latest closing price.
BRONSON DAVID M, the Director of Conmed Corp., purchase 1,350 shares at $72.09 during a trade that took place back on May 13 ’24, which means that BRONSON DAVID M is holding 16,460 shares at $97,322 based on the most recent closing price.
Stock Fundamentals for CNMD
Current profitability levels for the company are sitting at:
- 0.11 for the present operating margin
- 0.54 for the gross margin
The net margin for Conmed Corp. stands at 0.07. The total capital return value is set at 0.07. Equity return is now at value 10.25, with 3.56 for asset returns.
Based on Conmed Corp. (CNMD), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 1.16. The interest coverage ratio of the stock is 3.66.
Currently, EBITDA for the company is 182.19 million with net debt to EBITDA at 5.51. When we switch over and look at the enterprise to sales, we see a ratio of 2.33. The receivables turnover for the company is 5.22for trailing twelve months and the total asset turnover is 0.55. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.18.
Conclusion
In conclusion, Conmed Corp. (CNMD) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
