Leerink Swann Downgrades CONMED Corporation to Market Perform

Brokerage firm Leerink Swann Downgrades its rating on CONMED Corporation(NASDAQ:CNMD). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Leerink Swann was issued on Jul 28, 2016.

CONMED Corporation (CNMD) shares turned negative on Thursdays trading session with the shares closing down -0.41 points or -1.02% at a volume of 1,66,851. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $40.31. The peak price level was also seen at $40.31 while the days lowest was $39.57. Finally the shares closed at $39.63. The 52-week high of the shares is $57.53 while the 52-week low is $35.51. According to the latest information available, the market cap of the company is $1,102 M.

CONMED Corporation(CNMD) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $193.43M. Analysts had an estimated revenue of $191.48M. Earnings per share were $0.47. Analysts had estimated an EPS of $0.46.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Charles Farkas (director) purchased 282 shares at $47.87 per share price.Also, On Jun 6, 2016, Luke A Pomilio (EVP, Finance & CFO) sold 4,400 shares at $41.56 per share price.On Mar 7, 2016, Mark D Snyder (EVP Mfg. Ops & Business System) sold 2,940 shares at $41.32 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.

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