Paradigm Capital Management Inc. NY Acquires New Position in CONMED Corporation $CNMD

Paradigm Capital Management Inc. NY acquired a new stake in shares of CONMED Corporation (NYSE:CNMD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 538,245 shares of the company’s stock, valued at approximately $17,617,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kelleher Financial Advisors purchased a new position in shares of CONMED in the third quarter worth about $28,000. Kestra Advisory Services LLC purchased a new stake in shares of CONMED during the 4th quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd boosted its holdings in CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after buying an additional 581 shares during the period. Quarry LP boosted its holdings in CONMED by 244.8% in the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in CONMED by 48.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock valued at $42,000 after buying an additional 341 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CNMD shares. 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 target price on the stock. Wells Fargo & Company raised their price target on CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Weiss Ratings upgraded CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. dropped their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, CONMED has a consensus rating of “Reduce” and a consensus price target of $41.40.

CONMED Stock Performance

Shares of CNMD opened at $51.52 on Tuesday. CONMED Corporation has a 12-month low of $31.44 and a 12-month high of $56.63. The company has a current ratio of 1.48, a quick ratio of 0.69 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.54 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88. The stock has a 50-day moving average price of $42.06 and a 200-day moving average price of $39.54.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, equities analysts forecast that CONMED Corporation will post 4.54 earnings per share for the current fiscal 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.