CONMED Corporation $CNMD Shares Sold by Earnest Partners LLC

Earnest Partners LLC decreased its position in CONMED Corporation (NYSE:CNMD) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,798,703 shares of the company’s stock after selling 31,212 shares during the period. Earnest Partners LLC owned approximately 9.04% of CONMED worth $131,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tributary Capital Management LLC purchased a new position in shares of CONMED during the third quarter worth $19,549,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CONMED in the second quarter worth about $659,000. SG Americas Securities LLC grew its holdings in CONMED by 3,041.3% during the third quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock worth $3,005,000 after acquiring an additional 61,860 shares during the period. Envestnet Asset Management Inc. raised its position in CONMED by 31.9% during the third quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company’s stock valued at $7,919,000 after acquiring an additional 40,697 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in CONMED during the second quarter valued at approximately $1,397,000.

CONMED Stock Performance

NYSE CNMD opened at $37.30 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. The stock’s fifty day moving average is $41.81 and its two-hundred day moving average is $44.25. The firm has a market capitalization of $1.15 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91. CONMED Corporation has a fifty-two week low of $35.37 and a fifty-two week high of $62.41.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $373.20 million during the quarter, compared to the consensus estimate of $366.88 million. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. On average, research analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNMD. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a report on Thursday, January 29th. Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Bank of America reduced their price target on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Hold” and an average target price of $52.83.

CONMED Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.