Villanova Investment Management Co LLC Purchases New Stake in CONMED Corporation $CNMD

Villanova Investment Management Co LLC acquired a new position in shares of CONMED Corporation (NYSE:CNMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 58,749 shares of the company’s stock, valued at approximately $2,763,000. CONMED accounts for 1.9% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of CONMED by 19.9% during the 1st quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock worth $857,000 after buying an additional 2,357 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CONMED by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock valued at $1,108,000 after buying an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CONMED by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock valued at $4,993,000 after acquiring an additional 4,565 shares during the period. Intech Investment Management LLC lifted its position in CONMED by 34.6% during the first quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock worth $1,359,000 after acquiring an additional 5,780 shares during the last quarter. Finally, CWM LLC lifted its position in CONMED by 352.0% during the second quarter. CWM LLC now owns 791 shares of the company’s stock worth $41,000 after acquiring an additional 616 shares during the last quarter.

CONMED Price Performance

CNMD stock opened at $45.18 on Monday. The company’s 50-day moving average price is $41.23 and its two-hundred day moving average price is $45.41. The firm has a market cap of $1.39 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.98 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. CONMED Corporation has a 12 month low of $35.37 and a 12 month high of $64.87.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler reduced their target price on shares of CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Bank of America decreased their price target on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.83.

About CONMED

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.