Loomis Sayles & Co. L P Sells 5,059 Shares of CONMED Co. (NYSE:CNMD)

Loomis Sayles & Co. L P lessened its holdings in CONMED Co. (NYSE:CNMD) by 4.7% in the third quarter, HoldingsChannel reports. The fund owned 101,534 shares of the company’s stock after selling 5,059 shares during the period. Loomis Sayles & Co. L P’s holdings in CONMED were worth $7,302,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in CONMED by 29.1% during the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after purchasing an additional 10,736 shares during the period. Kempner Capital Management Inc. bought a new stake in CONMED during the second quarter worth about $6,480,000. Confluence Investment Management LLC bought a new stake in CONMED during the second quarter worth about $3,526,000. M&G Plc bought a new stake in CONMED during the second quarter worth about $9,117,000. Finally, Fifth Third Bancorp lifted its position in CONMED by 44.9% during the second quarter. Fifth Third Bancorp now owns 26,163 shares of the company’s stock worth $1,814,000 after purchasing an additional 8,112 shares during the period.

CONMED Stock Down 0.9 %

Shares of NYSE CNMD opened at $73.21 on Thursday. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.00 and a beta of 1.45. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $117.27. The stock has a 50-day moving average price of $69.56 and a two-hundred day moving average price of $70.51.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The company had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. As a group, analysts forecast that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

CONMED Company 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.