11,055 Shares in CONMED Corporation $CNMD Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in CONMED Corporation (NYSE:CNMD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,055 shares of the company’s stock, valued at approximately $362,000.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in CONMED by 46.5% during the 1st quarter. Bessemer Group Inc. now owns 116,429 shares of the company’s stock valued at $4,117,000 after purchasing an additional 36,940 shares in the last quarter. Fifth Third Bancorp grew its position in shares of CONMED by 497.4% during the 1st quarter. Fifth Third Bancorp now owns 70,623 shares of the company’s stock worth $2,497,000 after buying an additional 58,801 shares in the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 80,116 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of CONMED by 39.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company’s stock valued at $20,705,000 after acquiring an additional 166,301 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of CONMED by 217.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company’s stock valued at $14,819,000 after acquiring an additional 287,150 shares in the last quarter.

CONMED Stock Performance

Shares of CONMED stock opened at $49.92 on Friday. The company has a 50 day moving average price of $43.47 and a 200 day moving average price of $39.82. The firm has a market capitalization of $1.50 billion, a P/E ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.88. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. CONMED Corporation has a 52 week low of $31.44 and a 52 week high of $56.63.

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

Analyst Ratings Changes

CNMD has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. BMO Capital Markets started coverage on shares of CONMED in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price objective for the company. Weiss Ratings upgraded CONMED from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research report on Monday, July 13th. 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 MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $41.40.

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.