Vanguard Trims CONMED Stake to 11.7% as of Dec 29, 2023

TL;DR

**Vanguard cut its CONMED stake to 11.7%, watch for other institutional moves.**

AI Summary

The Vanguard Group, a major investment firm, filed an amendment to its Schedule 13G on February 13, 2024, indicating its ownership of 3,745,437 shares of CONMED Corp (CNMD) Common Stock as of December 29, 2023. This represents 11.7% of CONMED's outstanding shares, a slight decrease from its previous filing. This matters to investors because Vanguard is a significant institutional holder, and changes in its stake can signal shifts in its investment strategy or outlook on CONMED's future performance.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, has slightly reduced its ownership in CONMED Corp, which could be interpreted as a minor loss of confidence or a portfolio rebalancing.

Risk Assessment

Risk Level: low — The change in ownership by Vanguard is a minor adjustment and does not indicate a significant shift in the company's fundamentals or a major sell-off.

Analyst Insight

An investor should note Vanguard's slight reduction in stake but recognize it's not a major divestment. It might warrant a deeper look into CONMED's recent performance and Vanguard's overall sector allocation strategies.

Key Numbers

• 3,745,437 — Shares Beneficially Owned (This is the total number of CONMED Corp Common Stock shares Vanguard holds.)
• 11.7% — Percentage of Class (This indicates Vanguard's significant ownership stake in CONMED Corp.)
• December 29, 2023 — Event Date (This is the specific date when Vanguard's ownership percentage was determined for this filing.)

Key Players & Entities

• The Vanguard Group (company) — the reporting person and institutional investor
• CONMED Corp (company) — the issuer of the securities
• 3,745,437 shares (dollar_amount) — the number of shares beneficially owned by Vanguard
• 11.7% (dollar_amount) — the percentage of CONMED's class of securities owned by Vanguard
• December 29, 2023 (date) — the date of the event requiring the filing
• February 13, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will maintain a significant, but potentially slightly reduced, stake in CONMED Corp over the next year. (The Vanguard Group) — medium confidence, target: December 29, 2024

FAQ

Filing Documents

• tv0669-conmedcorp.htm (SC 13G/A) — 11KB
• 0001104659-24-020669.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: CONMED Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 11311 Concept Boulevard Largo, FL 33773

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 207410101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR