Algert Global LLC Has $4.30 Million Position in CONMED Corporation $CNMD

Key Points

• Algert Global increased its CONMED stake by 56.3% in the second quarter, purchasing 47,293 additional shares and bringing its position to 131,293 shares valued at approximately $4.30 million.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and two rate it Sell, resulting in a consensus “Reduce” rating and an average price target of $41.40—below the reported $50.46 share price.
• CONMED exceeded quarterly expectations, reporting $1.38 in EPS versus the $1.11 consensus estimate and revenue of $343.49 million versus $337.60 million expected; management’s fiscal-year EPS guidance is $4.48–$4.60.

Algert Global LLC boosted its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 56.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,293 shares of the company's stock after purchasing an additional 47,293 shares during the period. Algert Global LLC owned about 0.44% of CONMED worth $4,297,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in CONMED by 46.5% in the first quarter. Bessemer Group Inc. now owns 116,429 shares of the company's stock valued at $4,117,000 after buying an additional 36,940 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of CONMED by 497.4% during the first quarter. Fifth Third Bancorp now owns 70,623 shares of the company's stock worth $2,497,000 after purchasing an additional 58,801 shares in the last quarter. Dimensional Fund Advisors LP raised its position in CONMED by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company's stock worth $49,250,000 after purchasing an additional 80,116 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in CONMED by 39.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 582,733 shares of the company's stock worth $20,705,000 after purchasing an additional 166,301 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in CONMED by 217.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company's stock worth $14,819,000 after buying an additional 287,150 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CNMD shares. Bank of America reaffirmed an "underperform" rating and issued a $40.00 price objective on shares of CONMED in a research note on Monday, June 29th. Weiss Ratings upgraded CONMED from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Piper Sandler reissued a "neutral" rating and issued a $45.00 price target (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Finally, BMO Capital Markets assumed coverage on CONMED in a research note on Wednesday, July 8th. They set a "market perform" rating and a $36.00 price objective on the stock. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $41.40.

CONMED Trading Down 0.0%

Shares of NYSE:CNMD opened at $50.46 on Friday. The company's 50-day moving average price is $43.12 and its two-hundred day moving average price is $39.75. CONMED Corporation has a one year low of $31.44 and a one year high of $56.63. 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 has a market capitalization of $1.51 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.88.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.27. The company had revenue of $343.49 million for 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 business's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, equities analysts forecast that CONMED Corporation will post 4.54 EPS for the current fiscal 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.

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