Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 18,692 CONMED Corporation $CNMD

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CONMED Corporation (NYSE:CNMD) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,692 shares of the company’s stock, valued at approximately $612,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of CONMED as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNMD. WINTON GROUP Ltd lifted its position in CONMED by 0.3% during the fourth quarter. WINTON GROUP Ltd now owns 78,887 shares of the company’s stock valued at $3,203,000 after acquiring an additional 260 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in CONMED by 48.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock valued at $42,000 after acquiring an additional 341 shares in the last quarter. California State Teachers Retirement System grew its holdings in CONMED by 1.6% in the second quarter. California State Teachers Retirement System now owns 28,522 shares of the company’s stock worth $1,485,000 after purchasing an additional 442 shares during the last quarter. State of Wyoming grew its holdings in CONMED by 41.3% in the fourth quarter. State of Wyoming now owns 1,567 shares of the company’s stock worth $64,000 after purchasing an additional 458 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in CONMED by 409.2% in the fourth 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.

Analysts Set New Price Targets

CNMD has been the subject of several analyst reports. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Monday, July 13th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target (up from $39.00) on shares of CONMED in a research note on Thursday, July 30th. Finally, 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. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $41.40.

CONMED Trading Down 0.2%

Shares of CONMED stock opened at $51.27 on Friday. 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 Corporation has a 12-month low of $31.44 and a 12-month high of $56.63. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 2.33 and a beta of 0.88. The firm’s 50 day simple moving average is $41.71 and its two-hundred day simple moving average is $39.45.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The business had revenue of $343.49 million during the quarter, compared to analysts’ expectations of $337.60 million. During the same quarter last year, the company posted $1.15 earnings per share. The business’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. Analysts predict that CONMED Corporation will post 4.54 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.