12,609 Shares in CONMED Corporation $CNMD Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in CONMED Corporation (NYSE:CNMD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,609 shares of the company’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNMD. Kestra Advisory Services LLC bought a new stake in CONMED during the fourth quarter valued at about $26,000. Kelleher Financial Advisors bought a new position in shares of CONMED in the third quarter worth about $28,000. Aster Capital Management DIFC Ltd lifted its position in shares of CONMED by 409.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after purchasing an additional 581 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of CONMED by 210.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock worth $37,000 after purchasing an additional 763 shares during the last quarter. Finally, Quarry LP lifted its position in shares of CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CNMD shares. BMO Capital Markets started coverage on CONMED in a report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a research report on Monday, July 20th. Wells Fargo & Company raised their price objective on shares of CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Monday, July 13th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $41.40.

CONMED Trading Down 0.7%

Shares of CNMD opened at $48.97 on Tuesday. 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 stock has a market cap of $1.47 billion, a PE ratio of 26.47, a PEG ratio of 2.25 and a beta of 0.90. CONMED Corporation has a 1 year low of $31.44 and a 1 year high of $56.63. The stock has a 50 day simple moving average of $45.25 and a 200-day simple moving average of $40.11.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.11 by $0.27. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business had revenue of $343.49 million for the quarter, compared to analyst estimates of $337.60 million. During the same quarter in the previous year, the firm earned $1.15 EPS. CONMED’s quarterly revenue was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, sell-side analysts predict that CONMED Corporation will post 4.54 EPS 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.