Segall Bryant & Hamill LLC Has $1.96 Million Stock Position in CONMED Corporation $CNMD

Segall Bryant & Hamill LLC raised its holdings in CONMED Corporation (NYSE:CNMD) by 55.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,646 shares of the company’s stock after buying an additional 14,831 shares during the quarter. Segall Bryant & Hamill LLC owned 0.13% of CONMED worth $1,959,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CNMD. Tributary Capital Management LLC bought a new stake in shares of CONMED in the 3rd quarter valued at $19,549,000. Vanguard Group Inc. grew its holdings in CONMED by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,610,906 shares of the company’s stock worth $169,821,000 after purchasing an additional 62,917 shares during the period. SG Americas Securities LLC increased its stake in CONMED by 3,041.3% in the third quarter. SG Americas Securities LLC now owns 63,894 shares of the company’s stock valued at $3,005,000 after purchasing an additional 61,860 shares in the last quarter. Villanova Investment Management Co LLC bought a new stake in CONMED in the third quarter valued at $2,763,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of CONMED by 31.9% during the third quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company’s stock valued at $7,919,000 after purchasing an additional 40,697 shares during the period.

Wall Street Analyst Weigh In

Several analysts have recently commented on CNMD shares. Piper Sandler reduced their target price on CONMED from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Wall Street Zen upgraded CONMED from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. decreased their price objective on CONMED from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Finally, Wells Fargo & Company lifted their price target on shares of CONMED from $41.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.83.

CONMED Stock Performance

Shares of CONMED stock opened at $41.45 on Friday. CONMED Corporation has a 52 week low of $35.37 and a 52 week high of $64.87. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $42.10 and a 200-day moving average price of $44.97. The company has a market cap of $1.28 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.89 and a beta of 0.91.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. The business had revenue of $373.20 million during the quarter, compared to the consensus estimate of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.CONMED’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. Equities analysts anticipate that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

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.