Oppenheimer Asset Management Inc. Purchases New Position in CONMED Corporation $CNMD

Oppenheimer Asset Management Inc. bought a new position in CONMED Corporation (NYSE:CNMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,463 shares of the company’s stock, valued at approximately $539,000. Oppenheimer Asset Management Inc. owned 0.05% of CONMED at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CNMD. Vanguard Group Inc. boosted its holdings in CONMED by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,684,439 shares of the company’s stock worth $149,588,000 after acquiring an additional 73,533 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CONMED by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock valued at $49,250,000 after purchasing an additional 80,116 shares during the period. Wasatch Advisors LP purchased a new stake in shares of CONMED during the third quarter valued at approximately $47,026,000. Cooke & Bieler LP raised its stake in shares of CONMED by 23.2% during the fourth quarter. Cooke & Bieler LP now owns 867,817 shares of the company’s stock valued at $35,233,000 after purchasing an additional 163,494 shares during the period. Finally, Deerfield Management Company L.P. lifted its position in shares of CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after purchasing an additional 59,925 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNMD shares. Bank of America restated an “underperform” rating and issued a $40.00 target price on shares of CONMED in a research note on Monday, June 29th. BMO Capital Markets initiated coverage on shares of CONMED in a report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price objective on the stock. Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company raised their target price on CONMED from $39.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Reduce” and a consensus price target of $41.40.

CONMED Trading Down 2.6%

CONMED stock opened at $49.08 on Tuesday. The firm’s 50-day moving average is $40.50 and its 200-day moving average is $39.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.69 and a current ratio of 1.48. 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 $1.47 billion, a P/E ratio of 26.53, a PEG ratio of 2.30 and a beta of 0.88.

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

About CONMED

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.