Natixis Advisors LLC Sells 67,855 Shares of CONMED Corporation $CNMD

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

Other institutional investors have also added to or reduced their stakes in the company. Kelleher Financial Advisors purchased a new stake in CONMED during the 3rd quarter worth about $28,000. Quarry LP lifted its holdings in CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock worth $41,000 after purchasing an additional 617 shares in the last quarter. Huntington National Bank lifted its holdings in CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock worth $42,000 after purchasing an additional 466 shares in the last quarter. State of Wyoming purchased a new stake in CONMED during the 3rd quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in CONMED during the 4th quarter worth about $54,000.

CONMED Price Performance

Shares of CONMED stock opened at $34.54 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $1.04 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92. The business’s 50-day moving average price is $36.40 and its 200-day moving average price is $39.46. CONMED Corporation has a 12 month low of $32.13 and a 12 month high of $60.35.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. The firm had revenue of $317.05 million for 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%.The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 EPS. Sell-side analysts forecast that CONMED Corporation will post 4.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CNMD shares. Bank of America dropped 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 dropped 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. Weiss Ratings reissued a “sell (d)” rating on shares of CONMED in a report on Thursday. Wall Street Zen cut CONMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. dropped 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. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CONMED has a consensus rating of “Reduce” and a consensus price target of $43.80.

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.