Aurora Investment Counsel Purchases New Stake in CONMED Co. (NYSE:CNMD)

Aurora Investment Counsel purchased a new stake in shares of CONMED Co. (NYSE:CNMD) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 15,292 shares of the company’s stock, valued at approximately $1,100,000.

Several other institutional investors and hedge funds have also made changes to their positions in CNMD. 1620 Investment Advisors Inc. acquired a new stake in CONMED in the second quarter worth $39,000. Innealta Capital LLC acquired a new stake in CONMED in the second quarter worth $41,000. Hilltop National Bank increased its position in CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after buying an additional 195 shares during the period. CWM LLC increased its position in CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares during the period. Finally, nVerses Capital LLC increased its position in CONMED by 566.7% in 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 period.

CONMED Trading Down 1.5 %

Shares of CNMD stock opened at $70.69 on Thursday. The stock has a 50-day simple moving average of $69.64 and a 200 day simple moving average of $70.40. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The stock has a market capitalization of $2.18 billion, a P/E ratio of 16.79, a P/E/G ratio of 0.93 and a beta of 1.45. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last released its quarterly 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. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The business had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. On average, sell-side analysts expect that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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