Eagle Asset Management Inc. Purchases 18,545 Shares of CONMED Co. (NYSE:CNMD)

Eagle Asset Management Inc. grew its position in CONMED Co. (NYSE:CNMD) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,556 shares of the company’s stock after purchasing an additional 18,545 shares during the quarter. Eagle Asset Management Inc.’s holdings in CONMED were worth $9,366,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted 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 valued at $3,811,000 after acquiring an additional 10,736 shares during the last quarter. Kempner Capital Management Inc. acquired a new stake in CONMED during the second quarter worth approximately $6,480,000. Confluence Investment Management LLC bought a new stake in CONMED in the second quarter worth approximately $3,526,000. M&G Plc acquired a new position in CONMED in the second quarter valued at approximately $9,117,000. Finally, Vanguard Group Inc. boosted its holdings in shares of CONMED by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after buying an additional 36,823 shares in the last quarter.

CONMED Trading Up 4.5 %

NYSE:CNMD opened at $74.91 on Friday. CONMED Co. has a one year low of $61.05 and a one year high of $117.27. The company has a market cap of $2.31 billion, a PE ratio of 17.79, a PEG ratio of 0.92 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The firm has a 50-day moving average of $69.53 and a 200-day moving average of $70.43.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping 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 firm had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. As a group, equities research analysts expect that CONMED Co. will post 4.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNMD has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Piper Sandler decreased their price target on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research note 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 on the stock in a research report on Thursday, August 1st. Wells Fargo & Company decreased their target price 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, StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, CONMED has an average rating of “Moderate Buy” and an average price target 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.