Thrivent Financial for Lutherans Reduces Position in CONMED Co. (NYSE:CNMD)

Thrivent Financial for Lutherans decreased its position in CONMED Co. (NYSE:CNMD) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,187 shares of the company’s stock after selling 1,382 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of CONMED worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in shares of CONMED by 36.6% in the third quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock worth $7,977,000 after purchasing an additional 29,720 shares during the last quarter. Zions Bancorporation N.A. raised its position in CONMED by 19.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 12,279 shares of the company’s stock worth $883,000 after buying an additional 1,962 shares during the last quarter. Aigen Investment Management LP acquired a new stake in CONMED during the 3rd quarter valued at approximately $452,000. Versor Investments LP purchased a new stake in shares of CONMED in the 3rd quarter valued at $626,000. Finally, Atria Investments Inc increased its stake in shares of CONMED by 28.9% in the third quarter. Atria Investments Inc now owns 14,216 shares of the company’s stock worth $1,022,000 after acquiring an additional 3,189 shares during the period.

CONMED Stock Up 1.2 %

CNMD opened at $74.04 on Friday. The company has a fifty day moving average of $69.47 and a two-hundred day moving average of $70.54. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.94 and a beta of 1.45. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $117.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

CONMED (NYSE:CNMD) last announced its quarterly 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 during 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%. On average, research analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNMD shares. 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. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

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.