Glenmede Trust Co. NA Has $9.76 Million Stock Position in CONMED Corporation $CNMD

Glenmede Trust Co. NA lifted its holdings in shares of CONMED Corporation (NYSE:CNMD) by 35.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,888 shares of the company’s stock after purchasing an additional 72,412 shares during the quarter. Glenmede Trust Co. NA’s holdings in CONMED were worth $9,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. California State Teachers Retirement System boosted its holdings in CONMED by 38.1% in the first quarter. California State Teachers Retirement System now owns 39,340 shares of the company’s stock worth $1,391,000 after purchasing an additional 10,845 shares in the last quarter. Royal Bank of Canada increased its position in CONMED by 20.1% during the first quarter. Royal Bank of Canada now owns 22,619 shares of the company’s stock worth $799,000 after buying an additional 3,790 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in CONMED by 217.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 419,092 shares of the company’s stock valued at $14,819,000 after buying an additional 287,150 shares in the last quarter. State of Wyoming raised its holdings in CONMED by 103.8% during the first quarter. State of Wyoming now owns 3,194 shares of the company’s stock valued at $113,000 after buying an additional 1,627 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of CONMED by 15.6% in the first quarter. First Trust Advisors LP now owns 79,117 shares of the company’s stock worth $2,798,000 after buying an additional 10,698 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CNMD shares. Weiss Ratings reiterated a “sell (d)” rating on shares of CONMED in a research note on Thursday, June 4th. BMO Capital Markets started coverage on CONMED in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $36.00 price objective on the stock. Wells Fargo & Company boosted their target price on CONMED from $39.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. decreased their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, Bank of America reiterated an “underperform” rating and set a $40.00 price target on shares of CONMED in a report on Monday, June 29th. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, CONMED presently has a consensus rating of “Reduce” and a consensus target price of $41.40.

CONMED Stock Up 12.2%

CNMD stock opened at $51.93 on Tuesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.11 and a beta of 0.88. The company has a 50-day moving average of $37.56 and a two-hundred day moving average of $38.53. CONMED Corporation has a 52-week low of $31.44 and a 52-week high of $56.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.48 and a quick ratio of 0.69.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.38 earnings per share for the quarter, topping 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 return on equity of 14.31% and a net margin of 4.12%.The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. CONMED has set its FY 2026 guidance at 4.480-4.600 EPS. As a group, equities research analysts anticipate that CONMED Corporation will post 4.54 EPS 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.