Walleye Trading LLC Takes Position in CONMED Co. (NYSE:CNMD)

Walleye Trading LLC purchased a new stake in CONMED Co. (NYSE:CNMD - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,357 shares of the company's stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CNMD. 1620 Investment Advisors Inc. acquired a new stake in CONMED in the 2nd quarter valued at $39,000. Innealta Capital LLC bought a new stake in CONMED in the 2nd quarter valued at about $41,000. CWM LLC boosted its holdings in CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company's stock valued at $64,000 after purchasing an additional 636 shares during the period. nVerses Capital LLC lifted its holdings in shares of CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $144,000 after acquiring an additional 1,700 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of CONMED during the 2nd quarter worth approximately $167,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. StockNews.com lowered shares of CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

CONMED Price Performance

NYSE:CNMD traded down $1.13 on Wednesday, reaching $73.80. 248,409 shares of the company's stock traded hands, compared to its average volume of 482,097. The firm has a market cap of $2.28 billion, a PE ratio of 17.80, a P/E/G ratio of 0.98 and a beta of 1.46. The stock has a 50-day simple moving average of $69.42 and a 200-day simple moving average of $70.51. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $117.27.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The firm had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. Equities research analysts forecast that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.