Dynamic Technology Lab Private Ltd Lowers Stake in CONMED Co. (NYSE:CNMD)

Dynamic Technology Lab Private Ltd trimmed its position in CONMED Co. (NYSE:CNMD) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,550 shares of the company’s stock after selling 245 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in CONMED were worth $615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System raised its holdings in CONMED by 2.0% in the second quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock valued at $597,000 after buying an additional 168 shares during the period. Hilltop National Bank boosted its position in CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the period. Diversified Trust Co increased its holdings in CONMED by 2.4% in the 2nd quarter. Diversified Trust Co now owns 11,250 shares of the company’s stock valued at $780,000 after purchasing an additional 259 shares in the last quarter. QRG Capital Management Inc. raised its position in CONMED by 5.0% in the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock valued at $419,000 after purchasing an additional 280 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of CONMED by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $1,074,000 after purchasing an additional 300 shares in the last quarter.

CONMED Trading Down 1.0 %

NYSE CNMD opened at $73.16 on Friday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $117.27. The company’s fifty day moving average price is $69.51 and its two-hundred day moving average price is $70.52.

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

Analysts Set New Price Targets

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

About CONMED

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.