Glenmede Trust Co. NA Has $13.03 Million Holdings in CONMED Co. (NYSE:CNMD)

Glenmede Trust Co. NA decreased its position in shares of CONMED Co. (NYSE:CNMD) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,099 shares of the company’s stock after selling 2,073 shares during the period. Glenmede Trust Co. NA owned about 0.59% of CONMED worth $13,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in CONMED during the 2nd quarter valued at $39,000. Innealta Capital LLC acquired a new stake in shares of CONMED in the second quarter valued at $41,000. Hilltop National Bank raised its holdings in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares during the last quarter. CWM LLC lifted its position in CONMED by 224.7% during the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company dropped 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. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. Finally, Piper Sandler decreased their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CONMED Stock Performance

CNMD stock opened at $73.16 on Friday. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $117.27. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.26 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. The business’s fifty day moving average is $69.51 and its 200-day moving average is $70.52.

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

About CONMED

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.