Sei Investments Co. Has $35.53 Million Stock Position in CONMED Corporation $CNMD

Sei Investments Co. trimmed its stake in shares of CONMED Corporation (NYSE:CNMD) by 10.1% during the first quarter, Holdings Channel reports. The firm owned 1,004,715 shares of the company’s stock after selling 113,320 shares during the period. Sei Investments Co.’s holdings in CONMED were worth $35,527,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kelleher Financial Advisors acquired a new position in shares of CONMED in the 3rd quarter worth approximately $28,000. Kestra Advisory Services LLC acquired a new stake in CONMED in the 4th quarter valued at $26,000. Aster Capital Management DIFC Ltd boosted its stake in CONMED by 409.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 723 shares of the company’s stock valued at $29,000 after buying an additional 581 shares in the last quarter. Quarry LP grew its position in CONMED by 244.8% in the third quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after acquiring an additional 617 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in CONMED by 48.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,043 shares of the company’s stock valued at $42,000 after acquiring an additional 341 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company set a $39.00 price objective on CONMED in a report on Monday, July 13th. Bank of America reaffirmed an “underperform” rating and issued a $40.00 target price on shares of CONMED in a report on Monday, June 29th. JPMorgan Chase & Co. dropped their target price on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Zacks Research downgraded shares of CONMED from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a research report on Thursday, June 4th. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, CONMED presently has a consensus rating of “Reduce” and a consensus target price of $38.80.

CONMED Trading Up 0.1%

CNMD stock opened at $42.73 on Monday. The business has a fifty day moving average price of $36.47 and a 200 day moving average price of $38.39. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. CONMED Corporation has a fifty-two week low of $31.44 and a fifty-two week high of $56.63. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 3.16 and a beta of 0.93.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $317.05 million for the quarter, compared to analyst estimates of $310.64 million. CONMED had a return on equity of 13.84% and a net margin of 4.00%.The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts expect that CONMED Corporation will post 4.38 EPS for the current fiscal year.

About CONMED

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.