Cornercap Investment Counsel Inc. Sells 3,276 Shares of CONMED Co. (NYSE:CNMD)

Cornercap Investment Counsel Inc. lowered its holdings in shares of CONMED Co. (NYSE:CNMD) by 51.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,078 shares of the company’s stock after selling 3,276 shares during the period. Cornercap Investment Counsel Inc.’s holdings in CONMED were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CNMD. 1620 Investment Advisors Inc. purchased a new position in shares of CONMED during the second quarter valued at approximately $39,000. Innealta Capital LLC purchased a new stake in CONMED in the 2nd quarter valued at about $41,000. Hilltop National Bank lifted its position in shares of CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after buying an additional 195 shares in the last quarter. CWM LLC grew its holdings in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after acquiring an additional 636 shares in the last quarter. Finally, nVerses Capital LLC increased its position in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CNMD shares. Piper Sandler decreased their target price 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 lowered CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. Stifel Nicolaus lowered their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their price target on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Stock Down 2.0 %

CNMD stock opened at $70.77 on Tuesday. The business’s 50 day moving average price is $69.70 and its two-hundred day moving average price is $70.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 0.93 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.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. As a group, analysts forecast that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Profile

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.