Loomis Sayles & Co. L P Has $7.30 Million Holdings in CONMED Co. (NYSE:CNMD)

Loomis Sayles & Co. L P cut its holdings in CONMED Co. (NYSE:CNMD) by 4.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,534 shares of the company’s stock after selling 5,059 shares during the period. Loomis Sayles & Co. L P owned about 0.33% of CONMED worth $7,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNMD. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED in the second quarter valued at approximately $39,000. Innealta Capital LLC acquired a new stake in shares of CONMED in the second quarter valued at approximately $41,000. Hilltop National Bank raised its holdings in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after purchasing an additional 195 shares during the last quarter. CWM LLC raised its holdings in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after purchasing an additional 636 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after buying an additional 1,700 shares during the last quarter.

CONMED Trading Down 0.9 %

CNMD stock opened at $73.21 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The company has a fifty day moving average price of $69.56 and a two-hundred day moving average price of $70.51. CONMED Co. has a one year low of $61.05 and a one year high of $117.27. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45.

CONMED (NYSE:CNMD) last released its quarterly earnings data 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 net margin of 10.23% and a return on equity of 13.84%. The firm had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. Equities analysts anticipate that CONMED Co. will post 4.03 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNMD shares. Wells Fargo & Company lowered their target price on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Piper Sandler lowered their target price on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Stifel Nicolaus lowered their target price on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a 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 company. Based on data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and an average 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.