SG Americas Securities LLC Has $786,000 Stock Holdings in CONMED Co. (NYSE:CNMD)

SG Americas Securities LLC increased its holdings in CONMED Co. (NYSE:CNMD) by 117.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,924 shares of the company’s stock after purchasing an additional 5,903 shares during the period. SG Americas Securities LLC’s holdings in CONMED were worth $786,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in CONMED by 29.1% in the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after purchasing an additional 10,736 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in CONMED in the first quarter worth about $673,000. Mountain Pacific Investment Advisers Inc. ID raised its position in CONMED by 29.0% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 248,304 shares of the company’s stock worth $19,884,000 after purchasing an additional 55,878 shares in the last quarter. Duality Advisers LP raised its position in CONMED by 149.5% in the first quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock worth $1,485,000 after purchasing an additional 11,110 shares in the last quarter. Finally, Kempner Capital Management Inc. bought a new stake in CONMED during the second quarter worth about $6,480,000.

Analysts Set New Price Targets

CNMD has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of CONMED in a research note on Friday, October 4th. StockNews.com raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler decreased their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company decreased their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Price Performance

CNMD opened at $64.02 on Friday. CONMED Co. has a one year low of $61.05 and a one year high of $117.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.34 and a quick ratio of 1.13. The company’s 50 day simple moving average is $70.31 and its 200-day simple moving average is $71.47. The stock has a market capitalization of $1.97 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The business had revenue of $332.10 million for the quarter, compared to analysts’ expectations of $334.39 million. During the same period in the prior year, the firm earned $0.83 earnings per share. CONMED’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that CONMED Co. will post 3.99 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were paid a $0.20 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. CONMED’s payout ratio is presently 25.48%.

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.