CONMED Corporation $CNMD Shares Sold by Pacific Capital Partners Ltd

Pacific Capital Partners Ltd cut its holdings in shares of CONMED Corporation (NYSE:CNMD) by 77.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,500 shares of the company’s stock after selling 32,000 shares during the period. Pacific Capital Partners Ltd’s holdings in CONMED were worth $386,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Kelleher Financial Advisors acquired a new position in shares of CONMED in the third quarter valued at approximately $28,000. Quarry LP lifted its holdings in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after buying an additional 617 shares in the last quarter. Huntington National Bank lifted its holdings in CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after buying an additional 466 shares in the last quarter. State of Wyoming purchased a new position in CONMED in the 3rd quarter valued at approximately $52,000. Finally, GAMMA Investing LLC boosted its position in CONMED by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,770 shares of the company’s stock valued at $83,000 after buying an additional 228 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNMD shares. Wall Street Zen raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Piper Sandler lowered CONMED from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $39.00 in a report on Tuesday, March 17th. Needham & Company LLC reissued a “hold” rating on shares of CONMED in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (d+)” rating on shares of CONMED in a report on Wednesday, January 21st. Finally, Zacks Research raised CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $50.17.

CONMED Trading Down 3.2%

Shares of NYSE:CNMD opened at $33.48 on Tuesday. CONMED Corporation has a 52 week low of $33.21 and a 52 week high of $61.13. The company’s 50 day moving average is $40.46 and its two-hundred day moving average is $42.81. The company has a market cap of $1.03 billion, a PE ratio of 22.17, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81.

CONMED (NYSE:CNMD) last released its quarterly earnings data 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 analysts’ expectations of $366.88 million. CONMED had a net margin of 3.42% and a return on equity of 14.23%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. Equities analysts predict that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

CONMED 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.