CONMED Corporation $CNMD Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in shares of CONMED Corporation (NYSE:CNMD) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,046 shares of the company’s stock after buying an additional 33,725 shares during the period. Fisher Asset Management LLC owned approximately 1.28% of CONMED worth $18,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in CONMED by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,610,906 shares of the company’s stock worth $169,821,000 after acquiring an additional 62,917 shares in the last quarter. Geode Capital Management LLC boosted its stake in CONMED by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 734,529 shares of the company’s stock worth $38,259,000 after purchasing an additional 19,944 shares in the last quarter. Cooke & Bieler LP grew its position in CONMED by 0.8% during the 3rd quarter. Cooke & Bieler LP now owns 704,323 shares of the company’s stock worth $33,124,000 after purchasing an additional 5,250 shares during the last quarter. Tributary Capital Management LLC acquired a new position in CONMED during the 3rd quarter valued at approximately $19,549,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of CONMED by 8.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 281,816 shares of the company’s stock worth $13,290,000 after buying an additional 22,330 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CONMED from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Finally, Piper Sandler dropped their target price on CONMED from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CONMED presently has a consensus rating of “Hold” and a consensus price target of $52.83.

CONMED Stock Performance

NYSE CNMD opened at $42.99 on Thursday. The firm has a market capitalization of $1.33 billion, a P/E ratio of 28.47, a PEG ratio of 1.91 and a beta of 0.91. The stock has a 50-day simple moving average of $42.07 and a two-hundred day simple moving average of $45.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. CONMED Corporation has a fifty-two week low of $35.37 and a fifty-two week high of $64.87.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. The firm had revenue of $373.20 million for the quarter, compared to analyst estimates of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.CONMED’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, equities analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.