Natixis Advisors LLC Has $4.34 Million Holdings in CONMED Corporation $CNMD

Natixis Advisors LLC cut its holdings in CONMED Corporation (NYSE:CNMD) by 38.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,955 shares of the company’s stock after selling 67,855 shares during the quarter. Natixis Advisors LLC owned 0.35% of CONMED worth $4,342,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of CONMED by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,684,439 shares of the company’s stock worth $149,588,000 after purchasing an additional 73,533 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CONMED by 19.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,296,776 shares of the company’s stock worth $60,984,000 after purchasing an additional 214,126 shares during the period. Wasatch Advisors LP acquired a new position in shares of CONMED during the third quarter worth approximately $47,026,000. Cooke & Bieler LP raised its position in shares of CONMED by 23.2% during the fourth quarter. Cooke & Bieler LP now owns 867,817 shares of the company’s stock worth $35,233,000 after purchasing an additional 163,494 shares during the period. Finally, Deerfield Management Company L.P. raised its position in shares of CONMED by 8.6% during the third quarter. Deerfield Management Company L.P. now owns 760,196 shares of the company’s stock worth $35,752,000 after purchasing an additional 59,925 shares during the period.

CONMED Stock Down 1.8%

CNMD stock opened at $34.54 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.04 and a current ratio of 2.29. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.73 and a beta of 0.92. CONMED Corporation has a fifty-two week low of $32.13 and a fifty-two week high of $60.35. The stock has a fifty day moving average of $36.40 and a 200-day moving average of $39.46.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. The company had revenue of $317.05 million during the quarter, compared to the consensus estimate of $310.64 million. CONMED had a return on equity of 13.84% and a net margin of 4.00%.The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. As a group, equities research analysts predict that CONMED Corporation will post 4.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered CONMED from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $39.00 in a research report on Tuesday, March 17th. Wells Fargo & Company lowered their target price on CONMED from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CONMED in a research report on Thursday. Wall Street Zen lowered CONMED from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $43.80.

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.