CONMED Corporation $CNMD Holdings Reduced by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in CONMED Corporation (NYSE:CNMD) by 87.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,384 shares of the company’s stock after selling 51,120 shares during the quarter. Edgestream Partners L.P.’s holdings in CONMED were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in CONMED in the 4th quarter worth approximately $26,000. Kelleher Financial Advisors bought a new stake in CONMED during the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd raised its stake in CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after acquiring an additional 581 shares in the last quarter. Quarry LP boosted its position in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after acquiring an additional 617 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of CONMED by 48.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock worth $42,000 after purchasing an additional 341 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNMD. Zacks Research lowered CONMED from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a report on Monday, July 13th. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. BMO Capital Markets initiated coverage on shares of CONMED in a research note on Wednesday, July 8th. They set a “market perform” rating and a $36.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $41.40.

CONMED Price Performance

NYSE CNMD opened at $49.42 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63. 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 PE ratio of 26.71, a PEG ratio of 2.30 and a beta of 0.88. The stock’s 50-day moving average price is $38.12 and its two-hundred day moving average price is $38.64.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The company had revenue of $343.49 million during the quarter, compared to analysts’ expectations of $337.60 million. During the same period last year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, analysts predict that CONMED Corporation will post 4.54 EPS for the current year.

CONMED Company 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.