Arrowstreet Capital Limited Partnership Purchases 287,150 Shares of CONMED Corporation $CNMD

Key Points

• Arrowstreet Capital increased its CONMED stake by 217.6% in the first quarter, purchasing 287,150 shares for a total position of 419,092 shares valued at approximately $14.8 million.
• CONMED reported quarterly EPS of $1.38, beating the $1.10 analyst consensus, while revenue of $343.5 million also exceeded expectations. The company issued fiscal 2026 EPS guidance of $4.48–$4.60.
• Despite the earnings beat and recent stock gain to $47.04, analyst sentiment remains cautious: the consensus rating is “Reduce,” with a $41.40 target price, while revenue growth was only 0.3% year over year.

Arrowstreet Capital Limited Partnership lifted its position in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 217.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 419,092 shares of the company's stock after buying an additional 287,150 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.39% of CONMED worth $14,819,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in CONMED by 19.9% in the first quarter. AQR Capital Management LLC now owns 14,199 shares of the company's stock worth $857,000 after purchasing an additional 2,357 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CONMED by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company's stock worth $1,108,000 after buying an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CONMED by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company's stock worth $4,993,000 after buying an additional 4,565 shares during the last quarter. Intech Investment Management LLC raised its position in shares of CONMED by 34.6% during the 1st quarter. Intech Investment Management LLC now owns 22,505 shares of the company's stock valued at $1,359,000 after buying an additional 5,780 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of CONMED during the 2nd quarter valued at about $310,000.

CONMED Stock Up 8.9%

NYSE:CNMD opened at $47.04 on Friday. CONMED Corporation has a twelve month low of $31.44 and a twelve month high of $56.63. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 3.20 and a beta of 0.93. The stock has a fifty day simple moving average of $37.09 and a 200-day simple moving average of $38.42. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.28. The firm had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.38%. The business's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Analysts anticipate that CONMED Corporation will post 4.38 EPS for the current year.

Analyst Ratings Changes

CNMD has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of CONMED in a research report on Thursday, June 4th. BMO Capital Markets assumed coverage on CONMED in a research report on Wednesday, July 8th. They set a "market perform" rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on CONMED from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Needham & Company LLC reiterated a "hold" rating on shares of CONMED in a report on Monday, July 13th. Finally, Wall Street Zen raised CONMED from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $41.40.

Key Headlines Impacting CONMED

Here are the key news stories impacting CONMED this week:

• Positive Sentiment: Quarterly earnings beat expectations. CONMED reported second-quarter EPS of $1.38, well above the $1.10 consensus estimate and up from $1.15 a year earlier. Revenue reached $343.5 million, surpassing the $337.6 million consensus forecast. CONMED Corporation Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year EPS guidance was raised above Wall Street expectations. Management now expects 2026 adjusted EPS of $4.48-$4.60, compared with the roughly $4.37 analyst consensus. Margin expansion, solid international sales and 6% organic sales growth excluding discontinued GI product offerings supported the improved outlook. CONMED Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Analysts increased their price targets. Wells Fargo raised its target to $46 from $39, while Piper Sandler increased its target to $45 from $39, reflecting greater confidence following the earnings report.
• Neutral Sentiment: Reported revenue growth remains limited. Sales increased only 0.3% year over year to $343.5 million, or declined 0.5% on a constant-currency basis, although underlying organic growth was stronger after excluding strategic GI product exits. CONMED Q2 Earnings and Revenues Top Estimates
• Negative Sentiment: Valuation and analyst ratings could limit further gains. Piper Sandler reaffirmed a “neutral” rating and Wells Fargo maintained “equal weight.” Their $45 and $46 targets are below the stock’s recent trading level, signaling that analysts view much of the earnings optimism as already reflected in CNMD’s valuation.

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.

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