Fisher Asset Management LLC Grows Holdings in CONMED Corporation $CNMD

Fisher Asset Management LLC grew its position in CONMED Corporation (NYSE:CNMD) by 9.3% in the third quarter, HoldingsChannel reports. The fund owned 397,046 shares of the company’s stock after acquiring an additional 33,725 shares during the quarter. Fisher Asset Management LLC’s holdings in CONMED were worth $18,673,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Tributary Capital Management LLC acquired a new position in CONMED in the 3rd quarter worth about $19,549,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CONMED in the second quarter valued at approximately $659,000. SG Americas Securities LLC raised its stake in shares of CONMED by 3,041.3% during the 3rd quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock worth $3,005,000 after buying an additional 61,860 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of CONMED by 31.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company’s stock valued at $7,919,000 after buying an additional 40,697 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of CONMED during the 2nd quarter valued at approximately $1,397,000.

CONMED Stock Performance

CNMD opened at $42.99 on Thursday. CONMED Corporation has a twelve month low of $35.37 and a twelve month high of $64.87. The firm has a market capitalization of $1.33 billion, a PE ratio of 28.47, a PEG ratio of 1.91 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $42.07 and its 200 day moving average price is $45.00.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $373.20 million for the quarter, compared to analyst estimates of $366.88 million. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.34 EPS. As a group, sell-side analysts expect that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on CNMD. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. Piper Sandler decreased their price target on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Wells Fargo & Company increased 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. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $52.83.

CONMED Profile

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.