FORA Capital LLC Sells 10,613 Shares of CONMED Co. (NYSE:CNMD)

FORA Capital LLC lowered its holdings in shares of CONMED Co. (NYSE:CNMD) by 64.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,737 shares of the company’s stock after selling 10,613 shares during the period. FORA Capital LLC’s holdings in CONMED were worth $413,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CNMD. Millrace Asset Group Inc. bought a new position in CONMED during the third quarter worth $1,665,000. Fisher Asset Management LLC boosted its holdings in shares of CONMED by 5.5% during the 3rd quarter. Fisher Asset Management LLC now owns 295,290 shares of the company’s stock worth $21,237,000 after buying an additional 15,512 shares during the period. Champlain Investment Partners LLC grew its stake in CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after buying an additional 81,970 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in CONMED by 17.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company’s stock valued at $9,366,000 after acquiring an additional 18,545 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in CONMED by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock worth $27,431,000 after acquiring an additional 16,340 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNMD. Needham & Company LLC reiterated a “buy” rating and set a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Trading Up 1.2 %

Shares of NYSE:CNMD opened at $74.04 on Friday. The company has a market capitalization of $2.29 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.94 and a beta of 1.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The business’s 50 day simple moving average is $69.47 and its 200 day simple moving average is $70.54. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. On average, research analysts anticipate that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Company 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.