Blue Trust Inc. Has $216,000 Stock Holdings in CONMED Co. (NYSE:CNMD)

Blue Trust Inc. boosted its position in shares of CONMED Co. (NYSE:CNMDFree Report) by 26.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,121 shares of the company’s stock after purchasing an additional 653 shares during the period. Blue Trust Inc.’s holdings in CONMED were worth $216,000 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 the company. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED during the 2nd quarter valued at about $39,000. Innealta Capital LLC bought a new position in CONMED during the second quarter valued at approximately $41,000. Hilltop National Bank lifted its stake in 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 acquiring an additional 195 shares during the last quarter. CWM LLC grew its position in CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after acquiring an additional 636 shares in the last quarter. Finally, nVerses Capital LLC increased its stake in shares of 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 purchasing an additional 1,700 shares during the last quarter.

Analyst Upgrades and Downgrades

CNMD has been the subject of several analyst reports. Wells Fargo & Company reduced 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 note on Thursday, August 1st. Piper Sandler reduced their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. StockNews.com raised CONMED from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Friday, October 4th. Finally, Stifel Nicolaus lowered their price target on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

View Our Latest Research Report on CNMD

CONMED Trading Down 0.3 %

Shares of NYSE:CNMD opened at $62.12 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. The stock’s 50-day moving average is $69.76 and its 200-day moving average is $70.49. The company has a market cap of $1.91 billion, a P/E ratio of 23.80, a P/E/G ratio of 0.82 and a beta of 1.46. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $117.27.

CONMED (NYSE:CNMDGet Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The firm had revenue of $332.10 million for the quarter, compared to analyst estimates of $334.39 million. During the same quarter last year, the firm posted $0.83 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that CONMED Co. will post 3.99 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, September 16th. CONMED’s payout ratio is currently 30.65%.

About CONMED

(Free Report)

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.

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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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