Natixis Advisors LLC Buys 29,720 Shares of CONMED Co. (NYSE:CNMD)

Natixis Advisors LLC lifted its position in CONMED Co. (NYSE:CNMD) by 36.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,909 shares of the company’s stock after purchasing an additional 29,720 shares during the period. Natixis Advisors LLC owned about 0.36% of CONMED worth $7,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of CONMED by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after buying an additional 36,823 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of CONMED by 11.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,012 shares of the company’s stock worth $321,000 after acquiring an additional 410 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of CONMED during the first quarter valued at about $673,000. Bessemer Group Inc. grew its holdings in CONMED by 36.3% in the first quarter. Bessemer Group Inc. now owns 17,356 shares of the company’s stock worth $1,390,000 after purchasing an additional 4,623 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in CONMED by 99.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,286 shares of the company’s stock valued at $343,000 after buying an additional 2,135 shares in the last quarter.

Wall Street Analyst Weigh In

CNMD has been the topic of several research analyst reports. Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company reduced their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Stock Up 1.3 %

Shares of NYSE CNMD opened at $71.58 on Friday. The stock has a fifty day moving average price of $69.53 and a 200 day moving average price of $70.41. The company has a market cap of $2.21 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.92 and a beta of 1.45. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $117.27. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The business had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. Research analysts anticipate that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Company 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.