Wedge Capital Management L L P NC Grows Position in CONMED Corporation $CNMD

Wedge Capital Management L L P NC raised its holdings in CONMED Corporation (NYSE:CNMD) by 165.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,437 shares of the company’s stock after acquiring an additional 71,282 shares during the quarter. Wedge Capital Management L L P NC’s holdings in CONMED were worth $4,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Tributary Capital Management LLC purchased a new stake in shares of CONMED during the 3rd quarter worth $19,549,000. SG Americas Securities LLC boosted its holdings in shares of CONMED by 3,041.3% in the 3rd quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock valued at $3,005,000 after acquiring an additional 61,860 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in CONMED by 31.9% in the third quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company’s stock valued at $7,919,000 after purchasing an additional 40,697 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of CONMED by 9.3% in the third quarter. Fisher Asset Management LLC now owns 397,046 shares of the company’s stock valued at $18,673,000 after purchasing an additional 33,725 shares during the period. Finally, Villanova Investment Management Co LLC acquired a new position in CONMED during the third quarter worth about $2,763,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler lowered shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $39.00 in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Wells Fargo & Company upgraded shares of CONMED to a “hold” rating in a research report on Wednesday, March 18th. Bank of America decreased their target price on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Finally, Wall Street Zen upgraded CONMED from a “buy” rating to a “strong-buy” rating in a report on Sunday. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $50.17.

CONMED Trading Up 0.2%

Shares of NYSE:CNMD opened at $34.63 on Monday. CONMED Corporation has a fifty-two week low of $34.54 and a fifty-two week high of $61.13. The company’s 50-day moving average price is $40.62 and its 200 day moving average price is $42.96. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.07 billion, a PE ratio of 22.94, a P/E/G ratio of 1.52 and a beta of 0.91.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The business had revenue of $373.20 million during the quarter, compared to analyst estimates of $366.88 million. During the same period last year, the company posted $1.34 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED 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.