Crawford Investment Counsel Inc. Acquires 36,186 Shares of CONMED Corporation $CNMD

Crawford Investment Counsel Inc. grew its stake in shares of CONMED Corporation (NYSE:CNMD) by 12.6% in the third quarter, Holdings Channel reports. The firm owned 323,998 shares of the company’s stock after acquiring an additional 36,186 shares during the period. Crawford Investment Counsel Inc.’s holdings in CONMED were worth $15,238,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CNMD. Kelleher Financial Advisors purchased a new position in CONMED in the 3rd quarter worth about $28,000. Huntington National Bank boosted its position in CONMED by 111.8% in the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after buying an additional 466 shares during the period. State of Wyoming bought a new position in CONMED in the 3rd quarter worth about $52,000. GAMMA Investing LLC grew its stake in CONMED by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock worth $83,000 after acquiring an additional 228 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of CONMED during the third quarter worth approximately $167,000.

CONMED Trading Up 1.5%

NYSE:CNMD opened at $37.30 on Friday. CONMED Corporation has a one year low of $35.37 and a one year high of $62.41. 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 market cap of $1.15 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.64 and a beta of 0.91. The firm has a 50-day simple moving average of $41.81 and a 200-day simple moving average of $44.25.

CONMED (NYSE:CNMD) last announced its quarterly earnings results 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 firm had revenue of $373.20 million during the quarter, compared to analysts’ expectations of $366.88 million. During the same quarter in the prior year, the company earned $1.34 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CNMD shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CONMED in a research note on Wednesday, January 21st. Wall Street Zen raised CONMED from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Wells Fargo & Company raised their price objective on CONMED from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Finally, Bank of America lowered their target price on CONMED from $65.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, December 8th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.83.

CONMED Company Profile

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.