Ieq Capital LLC Makes New Investment in CONMED Corporation $CNMD

Ieq Capital LLC bought a new stake in shares of CONMED Corporation (NYSE:CNMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,055 shares of the company’s stock, valued at approximately $362,000.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of CONMED during the second quarter worth approximately $47,000. First National Bank of Omaha acquired a new stake in CONMED during the 2nd quarter worth $281,000. BlackRock Inc. purchased a new stake in shares of CONMED during the second quarter worth $157,783,000. Deutsche Bank AG purchased a new stake in shares of CONMED during the second quarter worth $1,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CONMED in the second quarter valued at about $612,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CNMD shares. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a report on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of CONMED from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Bank of America reaffirmed an “underperform” rating and set a $40.00 target price on shares of CONMED in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded shares of CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $41.40.

CONMED Price Performance

Shares of CNMD opened at $49.92 on Friday. The firm has a 50-day simple moving average of $43.47 and a two-hundred day simple moving average of $39.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69. CONMED Corporation has a 1-year low of $31.44 and a 1-year high of $56.63. The stock has a market cap of $1.50 billion, a PE ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.88.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.27. The firm had revenue of $343.49 million during 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 revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, analysts forecast that CONMED Corporation will post 4.54 EPS for the current 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.