Legal & General Group Plc Invests $5.33 Million in CONMED Corporation $CNMD

Legal & General Group Plc purchased a new stake in shares of CONMED Corporation (NYSE:CNMD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 162,764 shares of the company’s stock, valued at approximately $5,327,000.

A number of other large investors have also recently added to or reduced their stakes in CNMD. Kestra Advisory Services LLC purchased a new position in CONMED in the fourth quarter worth approximately $26,000. Kelleher Financial Advisors purchased a new stake in CONMED in the third quarter valued at $28,000. Aster Capital Management DIFC Ltd raised its position in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after purchasing an additional 581 shares during the period. Versant Capital Management Inc raised its position in CONMED by 210.8% in the second quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $37,000 after purchasing an additional 763 shares during the period. Finally, Quarry LP lifted its stake in shares of CONMED by 244.8% in the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after purchasing an additional 617 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNMD. Bank of America reissued an “underperform” rating and set a $40.00 price objective on shares of CONMED in a research report on Monday, June 29th. BMO Capital Markets assumed coverage on shares of CONMED in a research report on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 target price on the stock. Weiss Ratings raised shares of CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price target on shares of CONMED from $39.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CONMED currently has an average rating of “Reduce” and an average price target of $41.40.

CONMED Price Performance

Shares of CNMD opened at $49.30 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of 26.65, a PEG ratio of 2.25 and a beta of 0.90. CONMED Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm’s 50 day moving average price is $44.70 and its 200 day moving average price is $40.01.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share 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 return on equity of 14.31% and a net margin of 4.12%.CONMED’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, research analysts forecast that CONMED Corporation will post 4.54 earnings per share for the current fiscal year.

About CONMED

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.