CONMED (CNMD)

• Market cap: $2.09B
• 1 day: 1.24%
• 5 days: -0.99%
• 1 month: -4.97%
• 3 months: 4.59%
• 6 months: -8.03%
• Year to date: 0.50%
• 1 year: -38.20%
• 5 years: -38.75%
• 10 years: 43.38%
• Sector: Healthcare
• Industry: Electromedical & Electrotherapeutic Apparatus

About: Conmed Corp is a Utica, New York-based medical equipment company that focuses on sports medicine procedures and general surgeries. The firm currently reports through two reporting units, orthopedic surgery, and general surgery. From a geographic perspective, the firm is U.S.-centric, with maximum domestic sales accounting for revenue, EMEA accounting for second place, APAC at third, and the non-U.S. Americas region driving the remaining revenue.

Employees: 4,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

412% more call options, than puts

Call options by funds: $9.13M | Put options by funds: $1.78M

0% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]

0% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 41

1% less funds holding

Funds holding: 288 [Q2] → 286 (-2) [Q3]

2% less capital invested

Capital invested by funds: $2.51B [Q2] → $2.47B (-$49M) [Q3]

6.61% less ownership

Funds ownership: 117.77% [Q2] → 111.16% (-6.61%) [Q3]

16% less repeat investments, than reductions

Existing positions increased: 92 | Existing positions reduced: 109

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $97 43% upside
• Avg. target: $97 43% upside
• High target: $97 43% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Needham Mike Matson 52% 1-year accuracy 64 / 122 met price target

43% upside $97

Buy Reiterated

31 Oct 2024