CONMED Corporation $CNMD Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of CONMED Corporation (NYSE:CNMD) by 20.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 127,683 shares of the company’s stock after selling 32,067 shares during the period. Envestnet Asset Management Inc.’s holdings in CONMED were worth $6,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of CONMED by 40.6% in the second quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the company’s stock worth $575,000 after acquiring an additional 3,178 shares during the last quarter. Keeler Thomas Management LLC purchased a new position in CONMED in the 2nd quarter valued at $1,081,000. Caitong International Asset Management Co. Ltd acquired a new stake in CONMED during the 2nd quarter worth $48,000. Aurora Investment Counsel grew its holdings in shares of CONMED by 39.3% during the second quarter. Aurora Investment Counsel now owns 24,580 shares of the company’s stock worth $1,280,000 after buying an additional 6,930 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of CONMED by 0.7% in the second quarter. Nordea Investment Management AB now owns 75,441 shares of the company’s stock valued at $3,948,000 after buying an additional 520 shares during the last quarter.

CONMED Stock Up 1.6%

CONMED stock opened at $44.65 on Wednesday. The company has a market capitalization of $1.38 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.00 and a current ratio of 2.23. CONMED Corporation has a fifty-two week low of $41.62 and a fifty-two week high of $78.00. The firm has a 50 day moving average price of $47.85 and a 200 day moving average price of $51.86.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. The business had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. CONMED had a return on equity of 14.43% and a net margin of 8.31%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Research analysts expect that CONMED Corporation will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at CONMED

In other CONMED news, Director Charles Farkas sold 2,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $53.52, for a total transaction of $107,040.00. Following the sale, the director directly owned 14,859 shares in the company, valued at $795,253.68. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

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.