CI Investments Inc. Sells 16,225 Shares of CONMED Corporation $CNMD

CI Investments Inc. decreased its stake in CONMED Corporation (NYSE:CNMD) by 15.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,970 shares of the company’s stock after selling 16,225 shares during the period. CI Investments Inc. owned about 0.30% of CONMED worth $4,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of CONMED by 14.8% during the third quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock worth $83,000 after buying an additional 228 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of CONMED by 3.3% during the 3rd quarter. Amalgamated Bank now owns 9,129 shares of the company’s stock valued at $429,000 after acquiring an additional 294 shares in the last quarter. Keeler Thomas Management LLC grew its position in CONMED by 1.6% during the 3rd quarter. Keeler Thomas Management LLC now owns 21,107 shares of the company’s stock worth $993,000 after acquiring an additional 342 shares during the last quarter. California State Teachers Retirement System increased its holdings in CONMED by 1.6% in the 2nd quarter. California State Teachers Retirement System now owns 28,522 shares of the company’s stock worth $1,485,000 after purchasing an additional 442 shares in the last quarter. Finally, Huntington National Bank raised its position in CONMED by 111.8% in the third quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after purchasing an additional 466 shares during the last quarter.

Analysts Set New Price Targets

CNMD has been the topic of a number of recent research reports. Wall Street Zen raised CONMED from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded shares of CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Bank of America decreased their price target on shares of CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of CONMED in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Hold” and an average price target of $52.83.

CONMED Stock Down 1.0%

CONMED stock opened at $42.99 on Thursday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.91 and a beta of 0.91. CONMED Corporation has a 52-week low of $35.37 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. The firm has a 50 day moving average price of $42.07 and a two-hundred day moving average price of $45.00.

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

About CONMED

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.