CONMED Co. (NYSE:CNMD) Shares Acquired by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC increased its position in shares of CONMED Co. (NYSE:CNMD) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 501,803 shares of the company’s stock after purchasing an additional 4,032 shares during the quarter. ArrowMark Colorado Holdings LLC owned 1.62% of CONMED worth $36,090,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new stake in shares of CONMED in the 2nd quarter worth about $39,000. Innealta Capital LLC purchased a new position in shares of CONMED during the 2nd quarter worth approximately $41,000. Hilltop National Bank raised its position in shares of CONMED by 31.0% during the 2nd quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the last quarter. CWM LLC lifted its stake in CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after buying an additional 636 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after buying an additional 1,700 shares during the last quarter.

CONMED Stock Performance

CONMED stock opened at $74.04 on Monday. The stock has a fifty day moving average price of $69.44 and a 200 day moving average price of $70.54. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $117.27. The firm has a market capitalization of $2.29 billion, a P/E ratio of 17.59, a PEG ratio of 0.95 and a beta of 1.45.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The business had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. Equities research analysts anticipate that CONMED Co. will post 4.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNMD. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.