Public Sector Pension Investment Board Sells 2,500 Shares of CONMED Co. (NYSE:CNMD)

Public Sector Pension Investment Board decreased its position in CONMED Co. (NYSE:CNMD) by 3.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,316 shares of the company’s stock after selling 2,500 shares during the period. Public Sector Pension Investment Board owned about 0.21% of CONMED worth $4,698,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CNMD. Kempner Capital Management Inc. bought a new position in CONMED in the second quarter valued at $6,480,000. M&G Plc bought a new position in shares of CONMED in the 2nd quarter valued at about $9,117,000. Millrace Asset Group Inc. acquired a new stake in shares of CONMED in the third quarter valued at about $1,665,000. Fifth Third Bancorp raised its holdings in CONMED by 44.9% during the second quarter. Fifth Third Bancorp now owns 26,163 shares of the company’s stock worth $1,814,000 after acquiring an additional 8,112 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in CONMED by 177.6% during the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after purchasing an additional 10,187 shares during the last quarter.

Analyst Ratings Changes

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

CONMED Stock Performance

NYSE CNMD opened at $74.04 on Monday. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $117.27. The stock has a market cap of $2.29 billion, a PE ratio of 17.59, a P/E/G ratio of 0.95 and a beta of 1.45. The firm has a 50-day moving average of $69.44 and a 200-day moving average of $70.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. On average, sell-side analysts anticipate that CONMED Co. will post 4.03 EPS for the current year.

CONMED 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.