Confluence Investment Management LLC Has $984,000 Stake in CONMED Corporation $CNMD

Confluence Investment Management LLC reduced its position in CONMED Corporation (NYSE:CNMD) by 67.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,055 shares of the company’s stock after selling 63,475 shares during the quarter. Confluence Investment Management LLC owned about 0.10% of CONMED worth $984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNMD. WINTON GROUP Ltd boosted its position in shares of CONMED by 0.3% during the 4th quarter. WINTON GROUP Ltd now owns 78,887 shares of the company’s stock worth $3,203,000 after acquiring an additional 260 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in CONMED by 48.6% during 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 during the last quarter. California State Teachers Retirement System boosted its holdings in shares of CONMED by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 28,522 shares of the company’s stock valued at $1,485,000 after purchasing an additional 442 shares in the last quarter. State of Wyoming increased its stake in shares of CONMED by 41.3% in the 4th quarter. State of Wyoming now owns 1,567 shares of the company’s stock valued at $64,000 after purchasing an additional 458 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after purchasing an additional 581 shares during the last quarter.

CONMED Price Performance

CONMED stock opened at $50.28 on Wednesday. The stock has a 50-day moving average price of $37.85 and a two-hundred day moving average price of $38.59. CONMED Corporation has a 12 month low of $31.44 and a 12 month high of $56.63. The company has a market capitalization of $1.51 billion, a PE ratio of 27.18, a P/E/G ratio of 2.37 and a beta of 0.88. 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 (NYSE:CNMD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The company had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. During the same period in the previous year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts expect that CONMED Corporation will post 4.54 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 target price (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. Zacks Research cut shares of CONMED from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Bank of America reaffirmed an “underperform” rating and set a $40.00 price target on shares of CONMED in a report on Monday, June 29th. Finally, BMO Capital Markets started coverage on shares of CONMED in a research report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 price objective for the company. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target 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.