CONMED Co. (NYSE:CNMD) Holdings Raised by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC boosted its stake in CONMED Co. (NYSE:CNMD) by 102.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,877 shares of the company’s stock after buying an additional 5,505 shares during the period. Beverly Hills Private Wealth LLC’s holdings in CONMED were worth $1,249,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Crawford Investment Counsel Inc. boosted its position in shares of CONMED by 8.1% during the 1st quarter. Crawford Investment Counsel Inc. now owns 158,106 shares of the company’s stock valued at $16,421,000 after purchasing an additional 11,900 shares in the last quarter. Citizens Financial Group Inc RI raised its holdings in CONMED by 7.6% during the 1st quarter. Citizens Financial Group Inc RI now owns 3,601 shares of the company’s stock worth $375,000 after buying an additional 254 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of CONMED by 5.2% in the second quarter. Congress Asset Management Co. MA now owns 210,321 shares of the company’s stock worth $28,581,000 after buying an additional 10,396 shares during the period. Keybank National Association OH boosted its position in shares of CONMED by 7.6% in the second quarter. Keybank National Association OH now owns 3,969 shares of the company’s stock worth $539,000 after buying an additional 279 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in CONMED during the 2nd quarter valued at about $2,855,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNMD. Wells Fargo & Company lowered their price objective on shares of CONMED from $123.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Needham & Company LLC lowered their price target on shares of CONMED from $140.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. KeyCorp increased their price objective on CONMED from $131.00 to $141.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. StockNews.com upgraded CONMED from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus cut their price target on CONMED from $136.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.17.

CONMED Stock Up 4.5 %

Shares of CONMED stock opened at $105.74 on Wednesday. CONMED Co. has a 12-month low of $78.20 and a 12-month high of $138.47. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 1.18. The stock has a 50 day moving average price of $100.10 and a two-hundred day moving average price of $114.41. The stock has a market capitalization of $3.25 billion, a P/E ratio of 57.16, a PEG ratio of 1.01 and a beta of 1.37.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $304.58 million during the quarter, compared to analysts’ expectations of $301.22 million. CONMED had a net margin of 4.96% and a return on equity of 11.46%. Equities analysts expect that CONMED Co. will post 3.5 earnings per share for the current year.

Insider Activity at CONMED

In other news, insider Stanley W. Peters III sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $107.31, for a total transaction of $214,620.00. Following the completion of the transaction, the insider now directly owns 63 shares in the company, valued at $6,760.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Stanley W. Peters III sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $107.31, for a total transaction of $214,620.00. Following the completion of the transaction, the insider now owns 63 shares of the company’s stock, valued at $6,760.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stanley W. Peters III sold 1,200 shares of CONMED stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $102.39, for a total value of $122,868.00. Following the sale, the insider now directly owns 63 shares in the company, valued at $6,450.57. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.