First Trust Advisors LP Buys 10,698 Shares of CONMED Corporation $CNMD

First Trust Advisors LP raised its position in shares of CONMED Corporation (NYSE:CNMD) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,117 shares of the company’s stock after acquiring an additional 10,698 shares during the period. First Trust Advisors LP owned approximately 0.26% of CONMED worth $2,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of CONMED during the 4th quarter worth about $26,000. Kelleher Financial Advisors purchased a new stake in CONMED in the 3rd quarter worth about $28,000. Aster Capital Management DIFC Ltd lifted its stake in CONMED by 409.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock worth $29,000 after purchasing an additional 581 shares during the last quarter. Quarry LP lifted its stake in CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in CONMED by 48.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock worth $42,000 after purchasing an additional 341 shares during the last quarter.

CONMED Price Performance

NYSE CNMD opened at $49.54 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 26.78, a P/E/G ratio of 2.25 and a beta of 0.88. The firm’s 50 day moving average price is $38.41 and its 200-day moving average price is $38.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.69 and a current ratio of 1.48. CONMED Corporation has a 52-week low of $31.44 and a 52-week high of $56.63.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The company 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%. CONMED’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 earnings per share. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. Sell-side analysts forecast that CONMED Corporation will post 4.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CNMD shares. Zacks Research cut CONMED from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wells Fargo & Company raised their price target on CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Monday, July 13th. JPMorgan Chase & Co. cut their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $41.40.

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.