Integrated Investment Consultants LLC Sells 157 Shares of CONMED Co. (NYSE:CNMD)

Integrated Investment Consultants LLC lessened its stake in CONMED Co. (NYSE:CNMD) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,867 shares of the company’s stock after selling 157 shares during the quarter. Integrated Investment Consultants LLC’s holdings in CONMED were worth $350,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNMD. Public Employees Retirement System of Ohio boosted its position in shares of CONMED by 29.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after purchasing an additional 10,736 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of CONMED during the first quarter worth about $673,000. Kempner Capital Management Inc. purchased a new stake in shares of CONMED during the second quarter worth about $6,480,000. Confluence Investment Management LLC acquired a new position in shares of CONMED during the second quarter valued at about $3,526,000. Finally, M&G Plc acquired a new stake in CONMED in the 2nd quarter worth approximately $9,117,000.

CONMED Price Performance

Shares of CNMD opened at $74.95 on Friday. The business’s 50-day moving average is $69.53 and its two-hundred day moving average is $70.44. The company has a market capitalization of $2.32 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.92 and a beta of 1.45. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

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

Analysts Set New Price Targets

CNMD has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut 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. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CONMED currently has a consensus rating of “Moderate Buy” and an average price target 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.