Segall Bryant & Hamill LLC Boosts Stake in CONMED Corporation $CNMD

Segall Bryant & Hamill LLC lifted its holdings in CONMED Corporation (NYSE:CNMD) by 55.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,646 shares of the company’s stock after buying an additional 14,831 shares during the period. Segall Bryant & Hamill LLC’s holdings in CONMED were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of CONMED by 19.9% during the first quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock valued at $857,000 after acquiring an additional 2,357 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CONMED by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock valued at $1,108,000 after purchasing an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CONMED by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock valued at $4,993,000 after purchasing an additional 4,565 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of CONMED by 34.6% during the 1st quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock worth $1,359,000 after purchasing an additional 5,780 shares during the period. Finally, CWM LLC boosted its holdings in shares of CONMED by 352.0% in the 2nd quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after buying an additional 616 shares during the last quarter.

CONMED Stock Down 3.6%

CNMD opened at $41.45 on Friday. CONMED Corporation has a 12 month low of $35.37 and a 12 month high of $64.87. The company has a market cap of $1.28 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.89 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $42.10 and a 200 day moving average of $44.97.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The business had revenue of $373.20 million for the quarter, compared to analysts’ expectations of $366.88 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that CONMED Corporation will post 4.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNMD. Needham & Company LLC restated a “hold” rating on shares of CONMED in a report on Thursday, January 29th. Wells Fargo & Company raised their price target on shares of CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Bank of America decreased their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.83.

CONMED Company Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.