Glenmede Trust Co. NA Has $13.03 Million Stake in CONMED Co. (NYSE:CNMD)

Glenmede Trust Co. NA lowered its holdings in shares of CONMED Co. (NYSE:CNMD) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,099 shares of the company’s stock after selling 2,073 shares during the quarter. Glenmede Trust Co. NA’s holdings in CONMED were worth $13,025,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new stake in CONMED during the 2nd quarter worth approximately $39,000. Innealta Capital LLC bought a new stake in shares of CONMED during the second quarter worth $41,000. Hilltop National Bank raised its holdings in shares of CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after acquiring an additional 195 shares during the period. CWM LLC lifted its position in CONMED by 224.7% in the 2nd 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 boosted its stake in CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after purchasing an additional 1,700 shares during the period.

CONMED Trading Down 1.0 %

Shares of CONMED stock opened at $73.16 on Friday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $117.27. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $69.51 and its 200-day moving average is $70.52. The stock has a market cap of $2.26 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.00 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNMD. Stifel Nicolaus cut their price target on CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Piper Sandler cut their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

About CONMED

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.