Top 5 Stock Picks of Steve Zheng’s Deepcurrents Investment Group

2. CONMED Corporation (NYSE:CNMD)

Deepcurrents Investment Group’s Stake Value: $19.90 million

Percentage of Deepcurrents Investment Group’s 13F portfolio: 0.59%

Total Number of Hedge Fund Holders: 21

CONMED Corporation (NYSE: CNMD) ranks 2nd on Steve Zheng’s list of top stocks to invest in. The company specializes in medical technology, providing surgical equipment and related devices worldwide. Steve Zheng’s Deepcurrents Investment holds 152,109 shares in the company valued at $19.90 million.

As of Q2 2021, 21 hedge funds out of 873 tracked by Insider Monkey held positions worth $174 million in CONMED Corporation (NYSE: CNMD), as compared to the previous quarter where 23 hedge funds owned $236 million worth of stocks.

In Q3 2021, CONMED Corporation (NYSE: CNMD) posted an EPS of $0.80, beating estimates by $0.05.

On October 6, research firm Needham analyst Mike Matson upgraded his rating on CONMED Corporation (NYSE: CNMD) from ‘Hold’ to ‘Buy’, setting a price target of $150. The analyst noted that the company’s Airseal and Buffalo Filter products are primarily responsible for driving growth and increasing margins, with the company expected to see revenue growth in the double digits on the back of its sales force expansion.