Public Sector Pension Investment Board Purchases 15,269 Shares of CONMED Corporation $CNMD

Public Sector Pension Investment Board boosted its position in CONMED Corporation (NYSE:CNMD) by 14.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,782 shares of the company’s stock after buying an additional 15,269 shares during the quarter. Public Sector Pension Investment Board’s holdings in CONMED were worth $5,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of CONMED in the third quarter valued at approximately $19,549,000. Keeler Thomas Management LLC bought a new position in CONMED in the 2nd quarter worth approximately $1,081,000. Dynamic Technology Lab Private Ltd purchased a new position in CONMED in the 2nd quarter valued at approximately $659,000. SG Americas Securities LLC raised its holdings in CONMED by 3,041.3% during the 3rd quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock valued at $3,005,000 after acquiring an additional 61,860 shares during the period. Finally, Nordea Investment Management AB raised its holdings in CONMED by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 75,441 shares of the company’s stock valued at $3,948,000 after acquiring an additional 520 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CNMD shares. Bank of America reduced their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Wells Fargo & Company lifted their target price on CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, January 29th. Piper Sandler decreased their price target on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CONMED currently has an average rating of “Hold” and an average price target of $52.83.

CONMED Trading Up 3.9%

Shares of CNMD opened at $44.21 on Thursday. CONMED Corporation has a 1-year low of $35.37 and a 1-year high of $64.87. The company has a market capitalization of $1.37 billion, a P/E ratio of 29.28, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.10 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $41.05 and its 200 day simple moving average is $45.57.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.36%. The firm had revenue of $373.20 million for the quarter, compared to analyst estimates of $366.88 million. During the same quarter in the prior year, the firm earned $1.34 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that CONMED Corporation will post 4.35 earnings per share 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.