CONMED Corporation (CNMD) was a big mover last session with its shares rising nearly 10% on the day. The upside was owing to the company’s announcement of better-than-expected first-quarter 2015 financial results. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $48.29 to $51.77.
This medical technology company has seen a mixed track record when it comes to estimate revisions of 1 increase and 2 decreases over the last 30 days. However, the Zacks Consensus Estimate has moved lower over the same period. This implies trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s climb lasts.
CONMED currently has a Zacks Rank #4 (Sell).
A better-ranked medical stock is Merit Medical Systems, Inc. (MMSI) with a Zacks Rank #1 (Strong Buy).
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