Keeler Thomas Management LLC Reduces Position in CONMED Corporation $CNMD

Keeler Thomas Management LLC decreased its stake in shares of CONMED Corporation (NYSE:CNMD) by 69.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,533 shares of the company’s stock after selling 14,574 shares during the period. Keeler Thomas Management LLC’s holdings in CONMED were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CNMD. AQR Capital Management LLC increased its position in CONMED by 19.9% during the first quarter. AQR Capital Management LLC now owns 14,199 shares of the company’s stock worth $857,000 after buying an additional 2,357 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CONMED by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company’s stock worth $1,108,000 after purchasing an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of CONMED by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company’s stock worth $4,993,000 after purchasing an additional 4,565 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of CONMED by 34.6% during the first quarter. Intech Investment Management LLC now owns 22,505 shares of the company’s stock worth $1,359,000 after purchasing an additional 5,780 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of CONMED during the second quarter worth $310,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNMD shares. JPMorgan Chase & Co. decreased their price objective on CONMED from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Piper Sandler cut CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $39.00 in a report on Tuesday, March 17th. Bank of America decreased their price objective on CONMED from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company decreased their price objective on CONMED from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CONMED in a report on Thursday, June 4th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $39.50.

CONMED Trading Down 4.8%

Shares of CNMD opened at $34.55 on Friday. The stock’s 50-day moving average is $36.48 and its two-hundred day moving average is $39.35. The stock has a market cap of $1.04 billion, a PE ratio of 19.52, a P/E/G ratio of 1.79 and a beta of 0.92. CONMED Corporation has a 12 month low of $32.13 and a 12 month high of $56.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.04.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The company had revenue of $317.05 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equities 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.