FORA Capital LLC Sells 10,613 Shares of CONMED Co. (NYSE:CNMD)

FORA Capital LLC trimmed its holdings in CONMED Co. (NYSE:CNMD) by 64.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,737 shares of the company’s stock after selling 10,613 shares during the period. FORA Capital LLC’s holdings in CONMED were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at approximately $39,000. Innealta Capital LLC bought a new position in CONMED in the second quarter valued at approximately $41,000. Hilltop National Bank boosted its holdings in shares of CONMED by 31.0% in the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock valued at $57,000 after buying an additional 195 shares during the period. CWM LLC increased its position in shares of CONMED by 224.7% during the second quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after acquiring an additional 636 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in shares of CONMED by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the period.

CONMED Stock Up 1.2 %

Shares of CNMD stock opened at $74.04 on Friday. The firm’s fifty day moving average price is $69.47 and its two-hundred day moving average price is $70.54. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $117.27. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $2.29 billion, a P/E ratio of 17.59, a PEG ratio of 0.94 and a beta of 1.45.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, CONMED currently has an average rating of “Moderate Buy” and an average 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.