CONMED Corporation $CNMD Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in CONMED Corporation (NYSE:CNMD) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,023 shares of the company’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in CONMED were worth $522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its position in shares of CONMED by 352.0% during the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after buying an additional 616 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of CONMED during the second quarter valued at approximately $48,000. Hilltop National Bank bought a new stake in CONMED during the second quarter worth approximately $55,000. GAMMA Investing LLC lifted its position in CONMED by 17.1% in the second quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock worth $80,000 after purchasing an additional 225 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in CONMED by 15.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock valued at $133,000 after purchasing an additional 298 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler dropped their price objective on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company lowered their target price on CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CONMED has an average rating of “Hold” and a consensus target price of $54.00.

Insider Buying and Selling

In related news, Director Charles Farkas sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $53.52, for a total value of $107,040.00. Following the completion of the transaction, the director owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

CONMED Trading Down 0.8%

NYSE:CNMD opened at $43.42 on Friday. The stock has a fifty day simple moving average of $45.19 and a 200 day simple moving average of $50.68. The company has a quick ratio of 1.00, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. CONMED Corporation has a 1-year low of $40.16 and a 1-year high of $76.43.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The company had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Sell-side analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.