CONMED Co. (NYSE:CNMD) Stock Position Increased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in CONMED Co. (NYSE:CNMD) by 177.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,922 shares of the company’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in shares of CONMED during the 2nd quarter worth about $39,000. Innealta Capital LLC bought a new stake in shares of CONMED during the 2nd quarter worth about $41,000. Hilltop National Bank raised its position in shares of CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after buying an additional 195 shares in the last quarter. CWM LLC raised its position in shares of CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares in the last quarter. Finally, nVerses Capital LLC grew its stake in shares of CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after purchasing an additional 1,700 shares during the last quarter.

Wall Street Analyst Weigh In

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

CONMED Stock Performance

CONMED stock opened at $73.21 on Thursday. The firm’s 50 day simple moving average is $69.56 and its 200-day simple moving average is $70.51. The company has a market cap of $2.26 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.00 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. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27.

CONMED (NYSE:CNMD) last released its 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 business 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, equities research analysts predict that CONMED Co. will post 4.03 EPS for the current year.

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.