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Recent 52-Week High Exceeded in Shares of Conmed Corp (CNMD)

By Shiri Gupta

Shares of Conmed Corp (NASDAQ:CNMD) traded today at $100.37, breaking its 52-week high. Approximately 82,000 shares have changed hands today, as compared to an average 30-day volume of 212,000 shares.

Over the past year, Conmed Corp has traded in a range of $56.91 to $100.37 and is now at $99.79, 75% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

Conmed Corp (NASDAQ:CNMD) is currently priced 35.5% above its average consensus analyst price target of $64.40. The stock should discover initial support at its 50-day moving average (MA) of $88.43 and subsequent support at its 200-day MA of $77.50.

CONMED Corporation provides orthopedic products, specializing in arthroscopy and powered surgical instruments. The Company develops, manufactures, and supplies surgical instruments and systems used in a range of surgical procedures. CONMED's products include arthroscopic surgery devices and powered surgical instruments, electrosurgery systems, and ECG electrodes for heart monitoring.

SmarTrend recommended that subscribers consider buying shares of Conmed Corp on December 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.09. Since that recommendation, shares of Conmed Corp have risen 54.0%. We continue to monitor CNMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows conmed corp

Ticker(s): CNMD