CONMED Corporation $CNMD Stock Holdings Lessened by Amundi

Key Points

• Amundi cut its CONMED stake by 99.7% in the first quarter, selling 2.29 million shares and retaining 6,201 shares worth approximately $219,000.
• Other major investors generally increased their positions, including Arrowstreet Capital, which boosted its holdings by 217.6%, and Fifth Third Bancorp, which increased its stake by 497.4%.
• CONMED exceeded quarterly earnings and revenue expectations, reporting $1.38 EPS and $343.49 million in revenue. However, analysts remain cautious, with an average “Reduce” rating and a $41.40 price target versus the stock’s reported $49.86 price.

Amundi lessened its stake in shares of CONMED Corporation (NYSE:CNMD - Free Report) by 99.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,201 shares of the company's stock after selling 2,293,799 shares during the period. Amundi's holdings in CONMED were worth $219,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. raised its holdings in shares of CONMED by 46.5% during the first quarter. Bessemer Group Inc. now owns 116,429 shares of the company's stock valued at $4,117,000 after acquiring an additional 36,940 shares during the period. Fifth Third Bancorp boosted its stake in CONMED by 497.4% in the 1st 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 during the period. Dimensional Fund Advisors LP boosted its stake 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 period. Allspring Global Investments Holdings LLC grew its position in CONMED by 39.9% during 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position 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 purchasing an additional 287,150 shares in the last quarter.

CONMED Stock Performance

NYSE:CNMD opened at $49.86 on Friday. CONMED Corporation has a 1 year low of $31.44 and a 1 year high of $56.63. The firm's fifty day simple moving average is $39.91 and its 200 day simple moving average is $38.97. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.49 billion, a PE ratio of 26.95, a PEG ratio of 2.26 and a beta of 0.88.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping 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 firm had revenue of $343.49 million during the quarter, compared to analyst estimates of $337.60 million. During the same quarter in the previous year, the business earned $1.15 EPS. The business's revenue was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, sell-side analysts anticipate that CONMED Corporation will post 4.54 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CNMD. BMO Capital Markets assumed coverage on CONMED in a research report on Wednesday, July 8th. They issued a "market perform" rating and a $36.00 target price for the company. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a research report on Monday, July 13th. Weiss Ratings raised CONMED from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price objective on CONMED from $43.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Finally, Zacks Research raised CONMED from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average 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.

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