Oppenheimer Asset Management Inc. Has $1.27 Million Stock Holdings in CONMED Corporation $CNMD

Key Points

• Oppenheimer Asset Management slashed its stake in CONMED by 84.1% in Q4, selling 165,210 shares and leaving 31,195 shares valued at about $1.27 million (roughly 0.10% of the company).
• Analyst sentiment has turned cautious—JPMorgan and Wells Fargo cut targets to $40 and $39, MarketBeat shows an average rating of "Reduce" and an average target price of $46.20.
• CONMED beat the quarter's EPS estimate ($0.89 vs. $0.82) and reported $317.1M in revenue (down 1.3% YoY); the stock trades around $36.61 with a 52-week range of $33.21–$61.08.

Oppenheimer Asset Management Inc. decreased its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 84.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,195 shares of the company's stock after selling 165,210 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.10% of CONMED worth $1,267,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CNMD. AQR Capital Management LLC grew its holdings in shares of CONMED by 19.9% in the 1st 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. grew its holdings in CONMED by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company's stock worth $1,108,000 after acquiring an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in CONMED by 5.8% during 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 acquiring an additional 4,565 shares during the last quarter. Intech Investment Management LLC grew its holdings in CONMED by 34.6% during the 1st quarter. Intech Investment Management LLC now owns 22,505 shares of the company's stock worth $1,359,000 after acquiring an additional 5,780 shares during the last quarter. Finally, Creative Planning bought a new stake in CONMED during the 2nd quarter worth about $310,000.

Analyst Ratings Changes

CNMD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $43.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Zacks Research upgraded shares of CONMED from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. Wells Fargo & Company cut their target price on shares of CONMED from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Friday, May 1st. Weiss Ratings restated a "sell (d+)" rating on shares of CONMED in a research report on Wednesday, January 21st. Finally, Needham & Company LLC restated a "hold" rating on shares of CONMED in a research report on Thursday, January 29th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CONMED currently has an average rating of "Reduce" and an average target price of $46.20.

CONMED Stock Performance

Shares of NYSE:CNMD opened at $36.61 on Wednesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.61 and a beta of 0.94. The firm's 50 day simple moving average is $38.46 and its 200 day simple moving average is $41.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. CONMED Corporation has a fifty-two week low of $33.21 and a fifty-two week high of $61.08.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. The business had revenue of $317.05 million for the quarter, compared to the consensus estimate of $310.64 million. CONMED had a net margin of 4.00% and a return on equity of 13.84%. CONMED's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, sell-side analysts forecast that CONMED Corporation will post 4.37 earnings per share for the current year.

CONMED Company Profile

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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