CONMED Corporation $CNMD Shares Acquired by Cooke & Bieler LP

Cooke & Bieler LP boosted its position in CONMED Corporation (NYSE:CNMD) by 23.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 867,817 shares of the company’s stock after buying an additional 163,494 shares during the period. Cooke & Bieler LP’s holdings in CONMED were worth $35,233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of CONMED by 19.9% in the 1st quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock worth $857,000 after acquiring an additional 2,357 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CONMED by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock worth $1,108,000 after purchasing an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CONMED by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock worth $4,993,000 after purchasing an additional 4,565 shares during the period. Intech Investment Management LLC increased its stake in CONMED by 34.6% during the first quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock valued at $1,359,000 after purchasing an additional 5,780 shares during the last quarter. Finally, Creative Planning bought a new stake in CONMED during the second quarter valued at $310,000.

Analyst Upgrades and Downgrades

CNMD has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of CONMED from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on shares of CONMED from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Bank of America lowered their target price on CONMED from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $43.80.

CONMED Stock Up 0.2%

Shares of CONMED stock opened at $37.30 on Tuesday. The business’s fifty day moving average price is $36.78 and its two-hundred day moving average price is $40.06. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04. The company has a market capitalization of $1.12 billion, a P/E ratio of 21.07, a PEG ratio of 1.67 and a beta of 0.94. CONMED Corporation has a 1-year low of $33.21 and a 1-year high of $60.35.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $317.05 million for the quarter, compared to analyst estimates of $310.64 million. CONMED had a return on equity of 13.84% and a net margin of 4.00%.CONMED’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. As a group, research analysts forecast that CONMED Corporation will post 4.38 EPS for the current year.

CONMED Company 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.