Keeler Thomas Management LLC Reduces Position in CONMED Corporation $CNMD

Keeler Thomas Management LLC trimmed its holdings in shares of CONMED Corporation (NYSE:CNMD) by 69.0% during the fourth quarter, Holdings Channel reports. The fund owned 6,533 shares of the company’s stock after selling 14,574 shares during the quarter. Keeler Thomas Management LLC’s holdings in CONMED were worth $265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kelleher Financial Advisors purchased a new stake in shares of CONMED during the third quarter worth about $28,000. Quarry LP increased its position in shares of CONMED by 244.8% during the third quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after acquiring an additional 617 shares during the last quarter. Huntington National Bank increased its position in shares of CONMED by 111.8% during the third quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after acquiring an additional 466 shares during the last quarter. State of Wyoming purchased a new stake in shares of CONMED during the third quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of CONMED during the fourth quarter worth about $54,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. dropped 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. Bank of America lowered their price objective on CONMED from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, May 18th. Wall Street Zen lowered CONMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Piper Sandler lowered CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $39.00 in a report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $39.50.

CONMED Stock Down 4.8%

Shares of CONMED stock opened at $34.55 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.29 and a debt-to-equity ratio of 0.85. The firm has a market cap of $1.04 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.79 and a beta of 0.92. CONMED Corporation has a fifty-two week low of $32.13 and a fifty-two week high of $56.63. The business has a 50-day moving average price of $36.48 and a 200 day moving average price of $39.35.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The firm had revenue of $317.05 million during the quarter, compared to analyst estimates of $310.64 million. CONMED had a return on equity of 13.84% and a net margin of 4.00%.CONMED’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, sell-side analysts forecast that CONMED Corporation will post 4.38 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.