Mitsubishi UFJ Asset Management Co. Ltd. Buys New Holdings in CONMED Corporation $CNMD

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CONMED Corporation (NYSE:CNMD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,692 shares of the company’s stock, valued at approximately $612,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in CONMED by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,684,439 shares of the company’s stock valued at $149,588,000 after acquiring an additional 73,533 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CONMED by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,392,920 shares of the company’s stock valued at $49,250,000 after acquiring an additional 80,116 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of CONMED in the third quarter worth $47,026,000. Cooke & Bieler LP increased its stake in shares of CONMED by 23.2% in the fourth quarter. Cooke & Bieler LP now owns 867,817 shares of the company’s stock worth $35,233,000 after acquiring an additional 163,494 shares during the period. Finally, Deerfield Management Company L.P. raised its holdings in shares of CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after purchasing an additional 59,925 shares during the last quarter.

CONMED Price Performance

NYSE:CNMD opened at $51.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. The company has a 50 day moving average price of $41.71 and a 200-day moving average price of $39.45. CONMED Corporation has a 1-year low of $31.44 and a 1-year high of $56.63. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88.

CONMED (NYSE:CNMD) last announced 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. The firm had revenue of $343.49 million for the quarter, compared to the consensus estimate of $337.60 million. CONMED had a net margin of 4.12% and a return on equity of 14.31%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Equities research analysts forecast that CONMED Corporation will post 4.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CNMD shares. Weiss Ratings upgraded shares of CONMED from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. BMO Capital Markets started coverage on CONMED in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 target price on the stock. Finally, Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. 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.com, the stock presently has a consensus rating of “Reduce” and an average target price of $41.40.

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.