Versor Investments LP bought a new position in CONMED Co. (NYSE:CNMD - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,706 shares of the company's stock, valued at approximately $626,000.
A number of other institutional investors have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new stake in shares of CONMED in the 2nd quarter worth $39,000. Innealta Capital LLC bought a new stake in CONMED in the 2nd quarter worth about $41,000. Hilltop National Bank raised its position in CONMED by 31.0% in the 2nd quarter. Hilltop National Bank now owns 825 shares of the company's stock worth $57,000 after buying an additional 195 shares during the last quarter. CWM LLC boosted its holdings in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company's stock valued at $64,000 after acquiring an additional 636 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of CONMED by 566.7% in the third 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.
CONMED Price Performance
Shares of NYSE:CNMD traded down $4.46 during mid-day trading on Thursday, reaching $71.19. The stock had a trading volume of 473,930 shares, compared to its average volume of 490,457. The company has a market cap of $2.20 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.45. The business's 50 day moving average price is $69.76 and its 200 day moving average price is $70.33. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27.
CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Research analysts expect that CONMED Co. will post 4.03 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CNMD shares. Piper Sandler reduced their target price on shares of CONMED from $95.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, August 1st. Needham & Company LLC restated a "buy" rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on CONMED from $77.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on CONMED from $88.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.80.
View Our Latest Stock Analysis on CNMD
CONMED Profile
(
Free Report)
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.
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