Aigen Investment Management LP Buys Shares of 6,281 CONMED Co. (NYSE:CNMD)

Aigen Investment Management LP acquired a new position in CONMED Co. (NYSE:CNMD) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,281 shares of the company’s stock, valued at approximately $452,000.

A number of other large investors have also modified their holdings of CNMD. Public Employees Retirement System of Ohio increased its stake in shares of CONMED by 29.1% in the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock valued at $3,811,000 after purchasing an additional 10,736 shares during the period. UniSuper Management Pty Ltd acquired a new stake in CONMED in the 1st quarter valued at approximately $673,000. Kempner Capital Management Inc. bought a new stake in CONMED during the 2nd quarter valued at $6,480,000. Thornburg Investment Management Inc. boosted its position in CONMED by 35.5% during the 1st quarter. Thornburg Investment Management Inc. now owns 111,667 shares of the company’s stock worth $8,936,000 after acquiring an additional 29,281 shares during the period. Finally, Confluence Investment Management LLC bought a new position in shares of CONMED in the second quarter worth $3,526,000.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. Stifel Nicolaus lowered their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Piper Sandler lowered their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CONMED presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Trading Down 5.9 %

CONMED stock opened at $71.19 on Friday. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27. The firm’s 50 day moving average price is $69.76 and its two-hundred day moving average price is $70.33. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.45. 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 earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The company had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. On average, research analysts predict that CONMED Co. will post 4.03 EPS 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.