Peregrine Capital Management LLC Sells 103,467 Shares of CONMED Corporation $CNMD

Peregrine Capital Management LLC lessened its position in shares of CONMED Corporation (NYSE:CNMD) by 98.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,223 shares of the company’s stock after selling 103,467 shares during the period. Peregrine Capital Management LLC’s holdings in CONMED were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in CONMED during the 3rd quarter worth approximately $19,549,000. SG Americas Securities LLC increased its position in CONMED by 3,041.3% during the 3rd quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock worth $3,005,000 after buying an additional 61,860 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of CONMED by 8.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 281,816 shares of the company’s stock worth $13,290,000 after buying an additional 22,330 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of CONMED by 12.0% during the third quarter. Blue Trust Inc. now owns 6,266 shares of the company’s stock worth $295,000 after buying an additional 669 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of CONMED by 14.8% in the third quarter. Harbor Capital Advisors Inc. now owns 18,129 shares of the company’s stock valued at $853,000 after acquiring an additional 2,344 shares during the period.

Wall Street Analysts Forecast Growth

CNMD has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Zacks Research cut shares of CONMED from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Wells Fargo & Company dropped their price target on shares of CONMED from $57.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Piper Sandler reduced their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $53.67.

CONMED Stock Performance

Shares of CONMED stock opened at $42.89 on Friday. The company has a current ratio of 2.10, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.33 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.96. The company has a 50 day moving average of $42.05 and a 200-day moving average of $47.55. CONMED Corporation has a 1-year low of $38.32 and a 1-year high of $74.70.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. CONMED had a net margin of 4.75% and a return on equity of 14.22%. The business had revenue of $337.93 million during the quarter, compared to the consensus estimate of $334.76 million. During the same period in the previous year, the business earned $1.05 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. As a group, equities research analysts forecast that CONMED Corporation will post 4.35 earnings per share 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.