Fisher Asset Management LLC Acquires 15,512 Shares of CONMED Co. (NYSE:CNMD)

Fisher Asset Management LLC raised its holdings in CONMED Co. (NYSE:CNMD) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,290 shares of the company’s stock after purchasing an additional 15,512 shares during the period. Fisher Asset Management LLC owned approximately 0.96% of CONMED worth $21,237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new stake in shares of CONMED in the second quarter valued at approximately $39,000. Innealta Capital LLC bought a new stake in shares of CONMED during the 2nd quarter valued at $41,000. Hilltop National Bank grew its holdings in shares of 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 in the last quarter. CWM LLC increased its position in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares during the period. Finally, nVerses Capital LLC raised its stake in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after purchasing an additional 1,700 shares in the last quarter.

CONMED Trading Down 0.9 %

NYSE CNMD opened at $73.21 on Thursday. 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. The firm has a market capitalization of $2.26 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. The business’s 50-day moving average price is $69.56 and its two-hundred day moving average price is $70.51.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company cut their target price on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus decreased their price target on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler dropped their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. 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.com, the stock currently has an average 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.