Hedge Funds Continue to Load Up on These 5 Growth Stocks Despite Recession Fears

2. CONMED Corporation (NYSE:CNMD)

Number of Hedge Fund Holders in Q2 2022: 34 

Number of Hedge Fund Holders in Q1 2022: 22   

CONMED Corporation (NYSE:CNMD) operates as a medical technology firm. In early August, the company announced that it would be purchasing privately-held medical device start-up Biorez. The deal was made for a cash consideration of $85 million at closing and up to an additional $165 million in growth-based earn-out payments over a four-year period. The former said the purchase would add $1 million in revenues for the firm and also add around $0.15 per share to the adjusted earnings. 

On August 2, Piper Sandler analyst Matt O’Brien maintained an Overweight rating on CONMED Corporation (NYSE:CNMD) stock with a price target of $118, noting the firm was more on the risky end of the spectrum. 

At the end of the second quarter of 2022, 34 hedge funds in the database of Insider Monkey held stakes worth $143 million in CONMED Corporation (NYSE:CNMD), compared to 22 in the preceding quarter worth $224 million.