Peregrine Capital Management LLC Has $58,000 Stake in CONMED Corporation $CNMD

Peregrine Capital Management LLC lowered its position in shares of CONMED Corporation (NYSE:CNMD) by 98.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,223 shares of the company’s stock after selling 103,467 shares during the quarter. Peregrine Capital Management LLC’s holdings in CONMED were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of CONMED by 19.9% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 800 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 buying an additional 4,565 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of 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 buying an additional 5,780 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of CONMED by 17.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock valued at $80,000 after acquiring an additional 225 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNMD. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Bank of America lowered their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Zacks Research downgraded CONMED from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Piper Sandler decreased their target price on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Reduce” and a consensus target price of $53.67.

CONMED Stock Performance

Shares of NYSE CNMD opened at $42.89 on Friday. The company has a current ratio of 2.10, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $1.33 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.83 and a beta of 0.96. CONMED Corporation has a 12 month low of $38.32 and a 12 month high of $74.70. The stock has a 50 day moving average of $42.05 and a 200-day moving average of $47.55.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The business had revenue of $337.93 million for the quarter, compared to analysts’ expectations of $334.76 million. During the same quarter in the prior year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, equities research analysts predict that CONMED Corporation will post 4.35 EPS for the current year.

CONMED 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.