Atria Investments Inc Purchases 3,189 Shares of CONMED Co. (NYSE:CNMD)

Atria Investments Inc raised its position in CONMED Co. (NYSE:CNMD) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,216 shares of the company’s stock after purchasing an additional 3,189 shares during the period. Atria Investments Inc’s holdings in CONMED were worth $1,022,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CNMD. Arizona State Retirement System raised its stake in CONMED by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock worth $597,000 after buying an additional 168 shares during the period. Hilltop National Bank raised its position in shares of CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the period. Diversified Trust Co lifted its holdings in shares of CONMED by 2.4% during the 2nd quarter. Diversified Trust Co now owns 11,250 shares of the company’s stock valued at $780,000 after purchasing an additional 259 shares in the last quarter. QRG Capital Management Inc. increased its stake in CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after purchasing an additional 280 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in CONMED by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $1,074,000 after buying an additional 300 shares during the period.

CONMED Price Performance

Shares of NYSE CNMD opened at $72.24 on Monday. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.93 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The business has a 50-day moving average of $69.72 and a 200-day moving average of $70.39.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, sell-side analysts predict that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNMD. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus lowered their target price on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler dropped their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of CONMED in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.