BlackRock Inc. bought a new position in shares of CONMED Corporation (NYSE:CNMD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,820,739 shares of the company's stock, valued at approximately $157,783,000. BlackRock Inc. owned 16.10% of CONMED at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Deutsche Bank AG bought a new position in shares of CONMED during the 2nd quarter worth about $1,073,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CONMED during the second quarter valued at about $612,000. Bank of New York Mellon Corp bought a new stake in shares of CONMED in the second quarter valued at about $9,531,000. State of Wyoming bought a new stake in shares of CONMED in the second quarter valued at about $127,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in CONMED during the second quarter worth about $539,000.
Wall Street Analyst Weigh In
CNMD has been the topic of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a report on Monday, July 13th. Wall Street Zen upgraded CONMED from a "hold" rating to a "buy" rating in a research note on Monday, July 20th. Zacks Research raised CONMED from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Piper Sandler reiterated a "neutral" rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price target on shares of CONMED from $39.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, CONMED currently has a consensus rating of "Reduce" and a consensus target price of $41.40.
Read Our Latest Stock Report on CONMED
CONMED Price Performance
Shares of CNMD stock opened at $49.92 on Friday. The stock's fifty day simple moving average is $43.47 and its 200 day simple moving average is $39.82. 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 firm has a market cap of $1.50 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.29 and a beta of 0.88. CONMED Corporation has a one year low of $31.44 and a one year high of $56.63.
CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. The firm had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, analysts expect that CONMED Corporation will post 4.54 earnings per share for the current fiscal year.
About CONMED
(
Free Report)
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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