Integrated Investment Consultants LLC Reduces Stake in CONMED Co. (NYSE:CNMD)

Integrated Investment Consultants LLC trimmed its stake in CONMED Co. (NYSE:CNMD) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,867 shares of the company’s stock after selling 157 shares during the period. Integrated Investment Consultants LLC’s holdings in CONMED were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNMD. 1620 Investment Advisors Inc. bought a new stake in CONMED in the second quarter worth $39,000. Innealta Capital LLC bought a new stake in shares of CONMED in the 2nd quarter worth about $41,000. Hilltop National Bank boosted its stake 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 purchasing an additional 195 shares during the period. CWM LLC boosted its stake 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 purchasing an additional 636 shares during the period. Finally, nVerses Capital LLC boosted its stake in shares of CONMED by 566.7% during 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 period.

Analyst Ratings Changes

CNMD has been the subject of several recent analyst reports. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Piper Sandler dropped their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.80.

CONMED Price Performance

Shares of CNMD stock opened at $74.95 on Friday. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $69.53 and a two-hundred day simple moving average of $70.44. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.92 and a beta of 1.45.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. On average, analysts predict that CONMED Co. will post 4.03 EPS for the current fiscal 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.