CONMED Co. (NYSE:CNMD) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd decreased its holdings in CONMED Co. (NYSE:CNMDFree Report) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,153 shares of the company’s stock after selling 5,586 shares during the period. Quadrature Capital Ltd’s holdings in CONMED were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CNMD. 1620 Investment Advisors Inc. purchased a new position in shares of CONMED in the 2nd quarter valued at about $39,000. Innealta Capital LLC purchased a new stake in shares of CONMED in the second quarter valued at about $41,000. CWM LLC raised its stake in CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after acquiring an additional 636 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after purchasing an additional 1,700 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of CONMED in the 2nd quarter worth $167,000.

Analyst Upgrades and Downgrades

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

View Our Latest Report on CNMD

CONMED Stock Performance

CNMD opened at $72.24 on Monday. The stock’s 50 day simple moving average is $69.36 and its 200 day simple moving average is $70.47. The stock has a market cap of $2.23 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.95 and a beta of 1.46. CONMED Co. has a 1-year low of $61.05 and a 1-year high of $117.27. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMDGet Free Report) last announced 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 analysts’ expectations of $318.46 million. As a group, equities analysts anticipate that CONMED Co. will post 4.03 EPS for the current fiscal year.

About CONMED

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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