Allspring Global Investments Holdings LLC Purchases 134,616 Shares of CONMED Corporation $CNMD

Allspring Global Investments Holdings LLC grew its position in CONMED Corporation (NYSE:CNMD) by 47.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,432 shares of the company’s stock after buying an additional 134,616 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CONMED were worth $16,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNMD. Tributary Capital Management LLC purchased a new stake in CONMED in the third quarter worth about $19,549,000. SG Americas Securities LLC increased its position 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 purchasing an additional 61,860 shares during the period. Envestnet Asset Management Inc. increased its position in 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 purchasing an additional 40,697 shares during the period. Fisher Asset Management LLC raised its holdings in shares of CONMED by 9.3% in the 3rd quarter. Fisher Asset Management LLC now owns 397,046 shares of the company’s stock valued at $18,673,000 after purchasing an additional 33,725 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of CONMED by 165.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 114,437 shares of the company’s stock worth $4,646,000 after purchasing an additional 71,282 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNMD. Wells Fargo & Company upgraded shares of CONMED to a “hold” rating in a research note on Wednesday, March 18th. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Bank of America cut their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Finally, Wall Street Zen raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 29th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $50.17.

CONMED Trading Down 0.0%

NYSE:CNMD opened at $34.79 on Friday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.53 and a beta of 0.99. CONMED Corporation has a 52 week low of $33.21 and a 52 week high of $61.08. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $39.93 and a 200 day moving average of $42.39.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 earnings per share. As a group, sell-side analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

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.