CONMED Co. (NYSE:CNMD) Shares Sold by PDT Partners LLC

PDT Partners LLC trimmed its holdings in shares of CONMED Co. (NYSE:CNMD) by 26.1% in the third quarter, HoldingsChannel reports. The firm owned 47,277 shares of the company’s stock after selling 16,723 shares during the period. PDT Partners LLC’s holdings in CONMED were worth $3,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNMD. Public Employees Retirement System of Ohio raised its holdings in shares of CONMED by 29.1% in the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after acquiring an additional 10,736 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in CONMED in the 2nd quarter valued at about $6,480,000. Confluence Investment Management LLC purchased a new position in CONMED in the 2nd quarter valued at about $3,526,000. M&G Plc acquired a new stake in shares of CONMED during the 2nd quarter worth about $9,117,000. Finally, Fifth Third Bancorp grew its holdings in shares of 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 buying an additional 8,112 shares in the last quarter.

CONMED Stock Up 1.2 %

Shares of NYSE CNMD opened at $74.04 on Friday. The stock has a market capitalization of $2.29 billion, a PE ratio of 17.59, a P/E/G ratio of 0.94 and a beta of 1.45. 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 firm has a fifty day moving average of $69.47 and a 200-day moving average of $70.54. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $117.27.

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

Wall Street Analysts Forecast Growth

CNMD has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $97.00 price objective 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 report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CONMED has a consensus rating of “Moderate Buy” and an average 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.