First Trust Advisors LP Grows Stock Holdings in CONMED Corporation $CNMD

First Trust Advisors LP grew its position in CONMED Corporation (NYSE:CNMD) by 15.6% during the first quarter, Holdings Channel reports. The institutional investor owned 79,117 shares of the company’s stock after acquiring an additional 10,698 shares during the quarter. First Trust Advisors LP’s holdings in CONMED were worth $2,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNMD. Wasatch Advisors LP bought a new position in shares of CONMED during the 3rd quarter worth approximately $47,026,000. Invenomic Capital Management LP boosted its stake in CONMED by 75.6% in the fourth quarter. Invenomic Capital Management LP now owns 737,546 shares of the company’s stock valued at $29,944,000 after acquiring an additional 317,543 shares in the last quarter. Marshall Wace LLP acquired a new stake in CONMED in the fourth quarter valued at approximately $9,029,000. Dimensional Fund Advisors LP grew its holdings in CONMED by 19.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock worth $60,984,000 after purchasing an additional 214,126 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in CONMED in the third quarter worth $9,239,000.

CONMED Price Performance

NYSE CNMD opened at $49.54 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. The stock’s fifty day moving average price is $38.41 and its 200 day moving average price is $38.69. CONMED Corporation has a 1 year low of $31.44 and a 1 year high of $56.63. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.25 and a beta of 0.88.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $343.49 million during the quarter, compared to analysts’ expectations of $337.60 million. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, equities research analysts forecast that CONMED Corporation will post 4.54 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Bank of America restated an “underperform” rating and set a $40.00 target price on shares of CONMED in a research note on Monday, June 29th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Weiss Ratings raised CONMED from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Zacks Research lowered CONMED from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $41.40.

CONMED Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.