Intech Investment Management LLC Has $1.15 Million Position in CONMED Co. (NYSE:CNMD)

Intech Investment Management LLC increased its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 177.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,922 shares of the company's stock after acquiring an additional 10,187 shares during the quarter. Intech Investment Management LLC owned about 0.05% of CONMED worth $1,145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNMD. Public Employees Retirement System of Ohio grew its position in shares of CONMED by 29.1% during the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company's stock worth $3,811,000 after acquiring an additional 10,736 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in CONMED during the second quarter worth about $6,480,000. Confluence Investment Management LLC purchased a new position in CONMED in the second quarter valued at about $3,526,000. M&G Plc acquired a new stake in shares of CONMED during the 2nd quarter valued at approximately $9,117,000. Finally, Fifth Third Bancorp boosted its stake in shares of CONMED by 44.9% during the 2nd quarter. Fifth Third Bancorp now owns 26,163 shares of the company's stock worth $1,814,000 after acquiring an additional 8,112 shares in the last quarter.

CONMED Stock Down 1.0 %

NYSE CNMD traded down $0.73 on Thursday, hitting $73.16. 288,467 shares of the stock traded hands, compared to its average volume of 485,857. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average of $69.51 and a 200 day moving average of $70.52. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a market capitalization of $2.26 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, analysts expect that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNMD. Piper Sandler reduced their target price on CONMED from $95.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus lowered their price objective on CONMED from $88.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. StockNews.com downgraded CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Needham & Company LLC restated a "buy" rating and issued a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on shares of CONMED from $77.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $79.80.

CONMED Company 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.