13,357 Shares in CONMED Co. (NYSE:CNMD) Purchased by Walleye Trading LLC

Walleye Trading LLC bought a new position in CONMED Co. (NYSE:CNMD) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,357 shares of the company’s stock, valued at approximately $961,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its position in CONMED by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock worth $597,000 after buying an additional 168 shares during the last quarter. Diversified Trust Co grew its stake in shares of CONMED by 2.4% in the second quarter. Diversified Trust Co now owns 11,250 shares of the company’s stock worth $780,000 after acquiring an additional 259 shares during the period. QRG Capital Management Inc. raised its holdings in shares of CONMED by 5.0% during the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock valued at $419,000 after purchasing an additional 280 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in CONMED by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock valued at $1,074,000 after purchasing an additional 300 shares during the period. Finally, CWM LLC boosted its holdings in CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares during the last quarter.

Analyst Upgrades and Downgrades

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

CONMED Price Performance

Shares of CONMED stock opened at $74.92 on Wednesday. The stock has a market cap of $2.31 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.98 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The stock’s fifty day moving average is $69.45 and its 200 day moving average is $70.51. CONMED Co. has a one year low of $61.05 and a one year high of $117.27.

CONMED (NYSE:CNMD) last posted its quarterly earnings data 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. The firm had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. Sell-side analysts anticipate that CONMED Co. will post 4.03 earnings per share for the current year.

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.