PEAK6 Investments LLC Makes New Investment in CONMED Co. (NYSE:CNMD)

PEAK6 Investments LLC purchased a new stake in CONMED Co. (NYSE:CNMD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,825 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds also recently made changes to their positions in CNMD. CWM LLC boosted its stake in shares of CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after purchasing an additional 636 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of CONMED by 8.7% in the 2nd quarter. QRG Capital Management Inc. now owns 5,547 shares of the company’s stock valued at $384,000 after purchasing an additional 442 shares in the last quarter. SG Americas Securities LLC raised its holdings in CONMED by 107.5% in the 2nd quarter. SG Americas Securities LLC now owns 5,021 shares of the company’s stock valued at $348,000 after buying an additional 2,601 shares during the last quarter. M&G Plc bought a new position in CONMED in the 2nd quarter valued at approximately $9,117,000. Finally, Diversified Trust Co raised its holdings in CONMED by 2.4% in the 2nd quarter. Diversified Trust Co now owns 11,250 shares of the company’s stock valued at $780,000 after buying an additional 259 shares during the last quarter.

CONMED Stock Down 1.5 %

CONMED stock opened at $73.80 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $117.27. The firm has a 50 day moving average price of $69.42 and a two-hundred day moving average price of $70.51. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.98 and a beta of 1.46.

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, topping 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. Equities analysts predict that CONMED Co. will post 4.03 EPS for the current year.

Analyst Upgrades and Downgrades

CNMD has been the subject of a number of research reports. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.