Fisher Asset Management LLC Buys 15,512 Shares of CONMED Co. (NYSE:CNMD)

Fisher Asset Management LLC boosted its position in CONMED Co. (NYSE:CNMD) by 5.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,290 shares of the company’s stock after buying an additional 15,512 shares during the period. Fisher Asset Management LLC’s holdings in CONMED were worth $21,237,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CNMD. Champlain Investment Partners LLC increased its holdings in shares of CONMED by 6.4% during the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after acquiring an additional 81,970 shares in the last quarter. Eagle Asset Management Inc. increased its stake in CONMED by 17.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company’s stock valued at $9,366,000 after purchasing an additional 18,545 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in CONMED by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock worth $27,431,000 after buying an additional 16,340 shares during the last quarter. Intech Investment Management LLC raised its holdings in CONMED by 177.6% during the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock worth $1,145,000 after buying an additional 10,187 shares during the last quarter. Finally, Aurora Investment Counsel bought a new position in shares of CONMED in the third quarter valued at $1,100,000.

CONMED Stock Performance

Shares of CONMED stock opened at $73.21 on Thursday. The business’s fifty day simple moving average is $69.56 and its 200 day simple moving average is $70.51. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $117.27. The firm has a market capitalization of $2.26 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company 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%. As a group, analysts anticipate that CONMED Co. will post 4.03 EPS for the current year.

Analyst Ratings Changes

CNMD has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. Stifel Nicolaus lowered their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, Piper Sandler cut their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED 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.