Eagle Asset Management Inc. Has $9.37 Million Stock Position in CONMED Co. (NYSE:CNMD)

Eagle Asset Management Inc. boosted its stake in CONMED Co. (NYSE:CNMD) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,556 shares of the company’s stock after purchasing an additional 18,545 shares during the quarter. Eagle Asset Management Inc. owned about 0.41% of CONMED worth $9,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at approximately $39,000. Innealta Capital LLC acquired a new position in CONMED during the second quarter valued at approximately $41,000. Hilltop National Bank raised its position in CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after purchasing an additional 195 shares in the last quarter. CWM LLC lifted its stake in CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares during the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after purchasing an additional 1,700 shares in the last quarter.

Analyst Upgrades and Downgrades

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

CONMED Stock Performance

CONMED stock opened at $74.91 on Friday. The business has a 50 day moving average of $69.53 and a 200-day moving average of $70.43. 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 1 year low of $61.05 and a 1 year high of $117.27. The company has a market capitalization of $2.31 billion, a P/E ratio of 17.79, a P/E/G ratio of 0.92 and a beta of 1.45.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million during 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%. On average, equities research analysts predict that CONMED Co. will post 4.03 earnings per share for the current year.

About CONMED

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.