CONMED (NYSE:CNMD) Posts Quarterly Earnings Results, Beats Expectations By $0.28 EPS

CONMED (NYSE:CNMD) issued its quarterly earnings data on Wednesday. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.28, FiscalAI reports. CONMED had a net margin of 4.00% and a return on equity of 13.84%. The firm had revenue of $343.49 million for the quarter, compared to analysts’ expectations of $337.60 million. CONMED updated its FY 2026 guidance to 4.480-4.600 EPS.

CONMED Trading Down 2.4%

Shares of CONMED stock traded down $1.07 during mid-day trading on Wednesday, hitting $43.18. 761,798 shares of the stock were exchanged, compared to its average volume of 558,588. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. CONMED has a twelve month low of $31.44 and a twelve month high of $56.63. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $36.76 and a 200 day simple moving average of $38.40.

Institutional Trading of CONMED

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in CONMED by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,312,804 shares of the company’s stock worth $53,301,000 after acquiring an additional 16,028 shares during the period. Wasatch Advisors LP purchased a new position in shares of CONMED during the 3rd quarter worth $47,026,000. Deerfield Management Company L.P. lifted its stake in shares of CONMED by 8.6% during the 3rd 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 period. Charles Schwab Investment Management Inc. boosted its holdings in shares of CONMED by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 417,541 shares of the company’s stock worth $16,952,000 after purchasing an additional 11,126 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of CONMED during the fourth quarter worth $9,029,000.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America reaffirmed an “underperform” rating and issued a $40.00 price target on shares of CONMED in a report on Monday, June 29th. Wells Fargo & Company set a $39.00 price objective on shares of CONMED in a research note on Monday, July 13th. JPMorgan Chase & Co. reduced their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, CONMED currently has an average rating of “Reduce” and a consensus price target of $38.80.

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.