CONMED Corporation $CNMD Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in CONMED Corporation (NYSE:CNMD) by 11.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 158,773 shares of the company’s stock after buying an additional 15,765 shares during the period. Pacer Advisors Inc.’s holdings in CONMED were worth $5,614,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of CONMED by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,684,439 shares of the company’s stock worth $149,588,000 after acquiring an additional 73,533 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of CONMED by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock valued at $49,250,000 after purchasing an additional 80,116 shares during the period. Wasatch Advisors LP purchased a new stake in shares of CONMED in the third quarter valued at about $47,026,000. Cooke & Bieler LP grew its holdings in shares of CONMED by 23.2% in the fourth quarter. Cooke & Bieler LP now owns 867,817 shares of the company’s stock valued at $35,233,000 after purchasing an additional 163,494 shares during the period. Finally, Deerfield Management Company L.P. increased its position in CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after purchasing an additional 59,925 shares during the last quarter.

CONMED Stock Down 2.0%

Shares of NYSE:CNMD opened at $49.42 on Thursday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.30 and a beta of 0.88. CONMED Corporation has a 12-month low of $31.44 and a 12-month high of $56.63. The business has a 50-day moving average price of $38.12 and a 200 day moving average price of $38.64. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. The company had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. CONMED’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Sell-side analysts expect that CONMED Corporation will post 4.54 EPS for the current year.

Analyst Ratings Changes

CNMD has been the topic of a number of analyst reports. Bank of America reaffirmed an “underperform” rating and set a $40.00 target price on shares of CONMED in a research note on Monday, June 29th. BMO Capital Markets assumed coverage on shares of CONMED in a report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $41.40.

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.