Mutual of America Capital Management LLC Sells 831 Shares of CONMED Co. (NYSE:CNMD)

Mutual of America Capital Management LLC lowered its position in CONMED Co. (NYSE:CNMD) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,213 shares of the company’s stock after selling 831 shares during the period. Mutual of America Capital Management LLC owned about 0.10% of CONMED worth $2,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNMD. 1620 Investment Advisors Inc. purchased a new position in shares of CONMED during the 2nd quarter worth $39,000. Innealta Capital LLC purchased a new position in CONMED during the second quarter valued at $41,000. Hilltop National Bank increased its position in CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after buying an additional 195 shares in the last quarter. CWM LLC raised its stake in shares of CONMED by 224.7% in the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after buying an additional 636 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of 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 in the last quarter.

CONMED Price Performance

CNMD stock opened at $74.91 on Monday. 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 $2.31 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 0.92 and a beta of 1.45. The company has a fifty day simple moving average of $69.53 and a two-hundred day simple moving average of $70.43. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CNMD shares. Stifel Nicolaus decreased their target price on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company reduced their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Piper Sandler cut their price objective on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

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.