CONMED Co. (NYSE:CNMD) Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lifted its stake in shares of CONMED Co. (NYSE:CNMD) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 501,803 shares of the company’s stock after acquiring an additional 4,032 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in CONMED were worth $36,090,000 as of its most recent SEC filing.

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

CONMED Price Performance

Shares of CNMD opened at $74.04 on Monday. 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 firm has a market cap of $2.29 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.95 and a beta of 1.45. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $117.27. The stock has a 50 day moving average of $69.44 and a 200-day moving average of $70.54.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $97.00 price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.