Oppenheimer Asset Management Inc. Has $1.27 Million Stock Holdings in CONMED Corporation $CNMD

Oppenheimer Asset Management Inc. reduced its stake in shares of CONMED Corporation (NYSE:CNMD) by 84.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,195 shares of the company’s stock after selling 165,210 shares during the period. Oppenheimer Asset Management Inc.’s holdings in CONMED were worth $1,267,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Kelleher Financial Advisors acquired a new stake in CONMED during the 3rd quarter worth approximately $28,000. Quarry LP raised its holdings in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares during the period. Huntington National Bank raised its holdings in CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after buying an additional 466 shares during the period. State of Wyoming acquired a new stake in CONMED during the 3rd quarter worth approximately $52,000. Finally, CWM LLC raised its holdings in CONMED by 114.7% during the 4th quarter. CWM LLC now owns 1,578 shares of the company’s stock worth $64,000 after buying an additional 843 shares during the period.

CONMED Price Performance

NYSE:CNMD opened at $36.61 on Wednesday. CONMED Corporation has a 1-year low of $33.21 and a 1-year high of $61.08. 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 firm has a fifty day simple moving average of $38.46 and a 200 day simple moving average of $41.04. The stock has a market capitalization of $1.10 billion, a PE ratio of 20.68, a P/E/G ratio of 1.61 and a beta of 0.94.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. CONMED had a net margin of 4.00% and a return on equity of 13.84%. The business had revenue of $317.05 million during the quarter, compared to analysts’ expectations of $310.64 million. During the same period last year, the business earned $0.95 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. On average, research analysts expect that CONMED Corporation will post 4.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler cut shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $39.00 in a research note on Tuesday, March 17th. Zacks Research raised shares of CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. Wall Street Zen cut shares of CONMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company decreased their price target on shares of CONMED from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $46.20.

About CONMED

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.