PDT Partners LLC Trims Stock Holdings in CONMED Co. (NYSE:CNMD)

PDT Partners LLC cut its holdings in shares of CONMED Co. (NYSE:CNMD) by 26.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,277 shares of the company’s stock after selling 16,723 shares during the period. PDT Partners LLC owned 0.15% of CONMED worth $3,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNMD. Public Employees Retirement System of Ohio increased its position in CONMED by 29.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock valued at $3,811,000 after acquiring an additional 10,736 shares during the period. Confluence Investment Management LLC acquired a new position in shares of CONMED in the second quarter valued at approximately $3,526,000. Hilltop National Bank raised its stake in shares of CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the last quarter. CWM LLC raised its stake in shares of CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after purchasing an additional 636 shares during the last quarter. Finally, Epiq Partners LLC lifted its holdings in shares of CONMED by 17.2% during the second quarter. Epiq Partners LLC now owns 13,610 shares of the company’s stock worth $943,000 after purchasing an additional 2,000 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CONMED has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Trading Up 1.2 %

Shares of CNMD opened at $74.04 on Friday. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $2.29 billion, a P/E ratio of 17.59, a PEG ratio of 0.94 and a beta of 1.45. The firm’s 50-day moving average is $69.47 and its two-hundred day moving average is $70.54.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $318.46 million. On average, research analysts predict that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Company Profile

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.