CONMED Corporation $CNMD Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners L.P. cut its CONMED stake by 87.4% in the first quarter, selling 51,120 shares and retaining 7,384 shares valued at approximately $261,000.
• Analyst sentiment remains cautious: five analysts rate CONMED a Hold and three rate it a Sell, producing a consensus “Reduce” rating and an average price target of $41.40.
• CONMED exceeded quarterly expectations with EPS of $1.38 versus the $1.11 consensus and revenue of $343.49 million, while maintaining fiscal 2026 EPS guidance of $4.48–$4.60.

Edgestream Partners L.P. trimmed its holdings in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 87.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,384 shares of the company's stock after selling 51,120 shares during the period. Edgestream Partners L.P.'s holdings in CONMED were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its stake in shares of CONMED by 0.3% during the fourth quarter. WINTON GROUP Ltd now owns 78,887 shares of the company's stock worth $3,203,000 after purchasing an additional 260 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of CONMED by 48.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company's stock worth $42,000 after buying an additional 341 shares during the period. California State Teachers Retirement System grew its stake in shares of CONMED by 1.6% in the second quarter. California State Teachers Retirement System now owns 28,522 shares of the company's stock valued at $1,485,000 after buying an additional 442 shares in the last quarter. State of Wyoming grew its stake in shares of CONMED by 41.3% in the fourth quarter. State of Wyoming now owns 1,567 shares of the company's stock valued at $64,000 after buying an additional 458 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company's stock valued at $29,000 after buying an additional 581 shares during the period.

Wall Street Analysts Forecast Growth

CNMD has been the topic of several recent research reports. BMO Capital Markets started coverage on CONMED in a research report on Wednesday, July 8th. They set a "market perform" rating and a $36.00 price target on the stock. Bank of America reaffirmed an "underperform" rating and issued a $40.00 price objective on shares of CONMED in a research report on Monday, June 29th. Needham & Company LLC reiterated a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Zacks Research downgraded shares of CONMED from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CONMED from $43.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CONMED currently has an average rating of "Reduce" and an average target price of $41.40.

CONMED Price Performance

CNMD opened at $49.42 on Thursday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 2.30 and a beta of 0.88. CONMED Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The company's 50-day moving average price is $38.12 and its 200 day moving average price is $38.64. 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 (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.27. The company had revenue of $343.49 million during the quarter, compared to the consensus estimate of $337.60 million. CONMED had a return on equity of 14.31% and a net margin of 4.12%.CONMED's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, sell-side 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.

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