Fisher Asset Management LLC Has $18.92 Million Holdings in CONMED Corporation $CNMD

Fisher Asset Management LLC cut its position in shares of CONMED Corporation (NYSE:CNMD) by 21.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 363,321 shares of the company’s stock after selling 100,700 shares during the period. Fisher Asset Management LLC owned about 1.17% of CONMED worth $18,922,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Choreo LLC boosted its stake in CONMED by 13.8% during the second quarter. Choreo LLC now owns 7,408 shares of the company’s stock worth $387,000 after buying an additional 900 shares in the last quarter. XTX Topco Ltd bought a new position in shares of CONMED during the 2nd quarter worth about $786,000. Segall Bryant & Hamill LLC acquired a new stake in shares of CONMED during the 2nd quarter valued at about $1,397,000. Rhumbline Advisers boosted its position in shares of CONMED by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 99,604 shares of the company’s stock valued at $5,187,000 after acquiring an additional 5,614 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in CONMED by 8.2% in the second quarter. Legal & General Group Plc now owns 104,365 shares of the company’s stock valued at $5,435,000 after acquiring an additional 7,913 shares during the period.

CONMED Trading Up 0.7%

Shares of CNMD opened at $44.34 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 2.10. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.47 and a beta of 0.98. The stock has a fifty day moving average price of $44.91 and a two-hundred day moving average price of $50.36. CONMED Corporation has a 52-week low of $40.16 and a 52-week high of $76.34.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, November 5th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The company had revenue of $337.93 million during the quarter, compared to analyst estimates of $334.76 million. During the same period last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. Analysts predict that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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 value of $107,040.00. Following the completion of the transaction, the director directly owned 14,859 shares of the company’s stock, valued at approximately $795,253.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

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.