Legal & General Group Plc Purchases New Shares in CONMED Corporation $CNMD

Key Points

• Legal & General Group Plc bought 162,764 shares of CONMED worth approximately $5.3 million, giving it a 0.54% stake. Several other institutional investors also increased their positions.
• CONMED reported quarterly EPS of $1.38, exceeding the $1.11 consensus estimate, while revenue reached $343.49 million versus expectations of $337.60 million. The company guided for fiscal 2026 EPS of $4.48–$4.60.
• 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 $49.30 share price.

Legal & General Group Plc purchased a new position in CONMED Corporation (NYSE:CNMD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 162,764 shares of the company's stock, valued at approximately $5,327,000. Legal & General Group Plc owned approximately 0.54% of CONMED as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its position in shares of CONMED by 0.3% in the fourth quarter. WINTON GROUP Ltd now owns 78,887 shares of the company's stock valued at $3,203,000 after purchasing an additional 260 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of CONMED by 48.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company's stock worth $42,000 after purchasing an additional 341 shares in the last quarter. California State Teachers Retirement System raised its position in shares of CONMED by 1.6% during the 2nd quarter. California State Teachers Retirement System now owns 28,522 shares of the company's stock worth $1,485,000 after purchasing an additional 442 shares during the last quarter. State of Wyoming lifted its stake in CONMED by 41.3% in the 4th 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 boosted its holdings in CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company's stock worth $29,000 after buying an additional 581 shares during the last quarter.

CONMED Stock Down 0.3%

CNMD stock opened at $49.30 on Friday. 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 50-day moving average of $44.70 and a two-hundred day moving average of $40.01. CONMED Corporation has a 12 month low of $31.44 and a 12 month high of $56.63. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.25 and a beta of 0.90.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business had revenue of $343.49 million for the quarter, compared to analysts' expectations of $337.60 million. During the same period in the previous year, the firm posted $1.15 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, analysts forecast that CONMED Corporation will post 4.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on CONMED from $39.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $45.00 price target (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Weiss Ratings upgraded CONMED from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 5th. Needham & Company LLC reissued a "hold" rating on shares of CONMED in a research note on Monday, July 13th. Finally, Bank of America restated an "underperform" rating and issued a $40.00 price objective on shares of CONMED in a report on Monday, June 29th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.

Want to see what other hedge funds are holding CNMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CONMED Corporation (NYSE:CNMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source