CONMED Corporation $CNMD Position Reduced by Cooke & Bieler LP

Cooke & Bieler LP cut its holdings in CONMED Corporation (NYSE:CNMD) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,608 shares of the company’s stock after selling 31,890 shares during the period. Cooke & Bieler LP’s holdings in CONMED were worth $25,039,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in CONMED during the second quarter valued at about $27,000. Rockefeller Capital Management L.P. grew its stake in shares of CONMED by 48.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock valued at $42,000 after buying an additional 341 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of CONMED by 210.8% during the second quarter. Versant Capital Management Inc now owns 1,125 shares of the company’s stock valued at $37,000 after buying an additional 763 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of CONMED during the second quarter valued at about $41,000. Finally, Allworth Financial LP purchased a new position in shares of CONMED in the second quarter worth about $47,000.

Analysts Set New Price Targets

CNMD has been the subject of a number of recent research reports. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut CONMED from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 6th. Piper Sandler restated a “neutral” rating and set a $45.00 price target (up from $39.00) on shares of CONMED in a research report on Thursday, July 30th. BMO Capital Markets assumed coverage on CONMED in a research report on Wednesday, July 8th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research note on Monday, July 13th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $41.40.

CONMED Trading Down 1.1%

NYSE:CNMD opened at $47.08 on Thursday. The company has a fifty day moving average of $47.49 and a 200 day moving average of $41.53. CONMED Corporation has a 52 week low of $31.44 and a 52 week high of $53.66. The company has a quick ratio of 0.69, a current ratio of 1.48 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $1.41 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.17 and a beta of 0.94.

CONMED (NYSE:CNMD) last announced its quarterly 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 business had revenue of $343.49 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. On average, research analysts predict that CONMED Corporation will post 4.54 earnings per share for the current year.

About CONMED

CONMED Corporation is a medical technology company that develops, manufactures, and sells surgical devices and related equipment. Its products are used by hospitals, ambulatory surgery centers, and other healthcare providers in orthopedic and general surgery procedures.

The company’s orthopedic portfolio includes arthroscopy systems, powered surgical instruments, sports medicine products, tissue ablation systems, implants, and related accessories. Its general surgery offerings include electrosurgical equipment, insufflation systems, smoke evacuation products, surgical visualization technologies, and devices used in minimally invasive procedures.

Founded in 1970, CONMED serves healthcare customers through direct sales and distribution channels in the United States and international markets.