CONMED Corporation $CNMD Shares Sold by Simplex Trading LLC

Simplex Trading LLC decreased its position in shares of CONMED Corporation (NYSE:CNMD) by 47.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,687 shares of the company’s stock after selling 3,278 shares during the period. Simplex Trading LLC’s holdings in CONMED were worth $192,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of CONMED by 17.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock valued at $80,000 after purchasing an additional 225 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of CONMED by 4.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,462 shares of the company’s stock valued at $330,000 after buying an additional 239 shares during the period. Smartleaf Asset Management LLC boosted its stake in CONMED by 15.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,260 shares of the company’s stock valued at $133,000 after buying an additional 298 shares in the last quarter. Connable Office Inc. grew its holdings in CONMED by 5.7% during the first quarter. Connable Office Inc. now owns 6,092 shares of the company’s stock worth $368,000 after acquiring an additional 326 shares during the period. Finally, Blue Trust Inc. raised its position in CONMED by 8.9% in the second quarter. Blue Trust Inc. now owns 5,597 shares of the company’s stock worth $291,000 after acquiring an additional 457 shares in the last quarter.

Insider Buying and Selling at CONMED

In other news, Director Charles Farkas sold 2,000 shares of CONMED stock in a transaction on Friday, September 12th. The stock was sold at an average price of $53.52, for a total transaction of $107,040.00. Following the transaction, the director owned 14,859 shares in the company, valued at approximately $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

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

CONMED Stock Performance

CONMED stock opened at $42.02 on Friday. CONMED Corporation has a fifty-two week low of $41.41 and a fifty-two week high of $78.00. The firm’s 50 day simple moving average is $47.17 and its 200-day simple moving average is $51.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 1.00. The company has a market cap of $1.30 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. CONMED had a net margin of 8.31% and a return on equity of 14.43%. The firm had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue 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 Company Profile

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.