Eagle Asset Management Inc. grew its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 17.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,556 shares of the company's stock after purchasing an additional 18,545 shares during the period. Eagle Asset Management Inc. owned approximately 0.41% of CONMED worth $9,366,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in CONMED by 1.1% during the first quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company's stock valued at $276,823,000 after buying an additional 36,823 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in CONMED by 11.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,012 shares of the company's stock worth $321,000 after acquiring an additional 410 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in CONMED by 99.3% in the first quarter. Advisors Asset Management Inc. now owns 4,286 shares of the company's stock worth $343,000 after purchasing an additional 2,135 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of CONMED by 55.0% during the first quarter. Quadrature Capital Ltd now owns 20,272 shares of the company's stock valued at $1,622,000 after purchasing an additional 7,193 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of CONMED by 29.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company's stock worth $3,811,000 after purchasing an additional 10,736 shares in the last quarter.
Analyst Ratings Changes
Several analysts recently commented on CNMD shares. Needham & Company LLC reissued a "buy" rating and set a $97.00 price objective on shares of CONMED in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on CONMED from $77.00 to $71.00 and set an "equal weight" rating for the company in a research note on Thursday, August 1st. Piper Sandler dropped their price objective on CONMED from $95.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, August 1st. StockNews.com lowered CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus dropped their price target on shares of CONMED from $88.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CONMED has an average rating of "Moderate Buy" and a consensus target price of $79.80.
Check Out Our Latest Analysis on CONMED
CONMED Price Performance
NYSE:CNMD traded up $3.20 during trading hours on Friday, hitting $74.91. 418,779 shares of the stock traded hands, compared to its average volume of 470,647. 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 1 year low of $61.05 and a 1 year high of $117.27. The stock has a 50 day moving average price of $69.53 and a 200 day moving average price of $70.43. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45.
CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. Sell-side analysts forecast that CONMED Co. will post 4.03 EPS for the current fiscal year.
CONMED Company Profile
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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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