Mountain Pacific Investment Advisers LLC Sells 112,031 Shares of CONMED Corporation $CNMD

Mountain Pacific Investment Advisers LLC lessened its stake in CONMED Corporation (NYSE:CNMD) by 80.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,764 shares of the company’s stock after selling 112,031 shares during the quarter. Mountain Pacific Investment Advisers LLC owned approximately 0.09% of CONMED worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CNMD. CWM LLC raised its stake in shares of CONMED by 352.0% in the second quarter. CWM LLC now owns 791 shares of the company’s stock valued at $41,000 after buying an additional 616 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in CONMED in the 2nd quarter worth approximately $48,000. Hilltop National Bank bought a new position in CONMED in the 2nd quarter worth approximately $55,000. GAMMA Investing LLC grew its stake in CONMED by 17.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,542 shares of the company’s stock valued at $80,000 after buying an additional 225 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in CONMED during the 3rd quarter valued at $167,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, October 8th. Bank of America cut their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Wells Fargo & Company decreased their price target on CONMED from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Zacks Research lowered shares of CONMED from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $53.67.

CONMED Stock Performance

CNMD stock opened at $41.56 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95. CONMED Corporation has a 1 year low of $38.32 and a 1 year high of $74.70. The company has a market cap of $1.29 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The stock’s fifty day moving average price is $41.62 and its 200-day moving average price is $46.91.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, November 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.03. CONMED had a return on equity of 14.22% and a net margin of 4.75%.The business had revenue of $337.93 million for the quarter, compared to analysts’ expectations of $334.76 million. During the same period last year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. CONMED has set its FY 2025 guidance at 4.480-4.530 EPS. On average, equities analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED 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.