Conmed Stock Hits New 52-Week High (CNMD)

NEW YORK ( TheStreet) -- Conmed Corporation (Nasdaq: CNMD) hit a new 52-week high Wednesday as it is currently trading at $31.77, above its previous 52-week high of $30.71 with 71,650 shares traded as of 9:40 a.m. ET. Average volume has been 132,700 shares over the past 30 days.

Conmed has a market cap of $802.1 million and is part of the health care sector and health services industry. Shares are up 12.7% year to date as of the close of trading on Tuesday.

CONMED Corporation, a medical technology company, provides surgical devices and equipment for minimally invasive procedures and monitoring. The company has a P/E ratio of 25.2, above the average health services industry P/E ratio of 25 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Conmed as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Conmed Ratings Report.

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