Confluence Investment Management LLC Sells 63,475 Shares of CONMED Corporation $CNMD

Confluence Investment Management LLC trimmed its stake in shares of CONMED Corporation (NYSE:CNMD) by 67.9% in the second quarter, Holdings Channel.com reports. The fund owned 30,055 shares of the company’s stock after selling 63,475 shares during the quarter. Confluence Investment Management LLC’s holdings in CONMED were worth $984,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNMD. Kestra Advisory Services LLC bought a new position in CONMED during the 4th quarter worth approximately $26,000. Kelleher Financial Advisors bought a new position in CONMED during the third quarter worth $28,000. Aster Capital Management DIFC Ltd lifted its holdings in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after buying an additional 581 shares during the period. Quarry LP boosted its position in CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after acquiring an additional 617 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in CONMED by 48.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock worth $42,000 after acquiring an additional 341 shares during the period.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. Zacks Research downgraded shares of CONMED from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $41.40.

CONMED Stock Down 3.0%

Shares of NYSE:CNMD opened at $50.28 on Wednesday. The business’s 50 day moving average is $37.85 and its 200 day moving average is $38.59. CONMED Corporation has a 12-month low of $31.44 and a 12-month high of $56.63. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 2.37 and a beta of 0.88. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63.

CONMED (NYSE:CNMD) last issued its quarterly earnings data 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. CONMED had a return on equity of 14.31% and a net margin of 4.12%.The business had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. During the same period last year, the business earned $1.15 EPS. The business’s revenue was up .3% on a year-over-year basis. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, sell-side analysts forecast that CONMED Corporation will post 4.54 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.