CONMED Corporation $CNMD Shares Sold by Kempner Capital Management Inc.

Key Points

• Kempner Capital Management reduced its stake in CONMED by 87.4% in Q4, selling 43,296 shares and leaving it with 6,258 shares valued at $252,000 according to its latest 13F filing.
• CONMED beat Q4 estimates with $1.43 EPS and $373.2M in revenue (up 7.9% YoY), but the stock trades near its 52‑week low (~$35.37) and has a MarketBeat consensus rating of "Reduce" with an average price target of $50.17.

Kempner Capital Management Inc. reduced its stake in CONMED Corporation (NYSE:CNMD - Free Report) by 87.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,258 shares of the company's stock after selling 43,296 shares during the period. Kempner Capital Management Inc.'s holdings in CONMED were worth $252,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new position in shares of CONMED in the 3rd quarter valued at $19,549,000. SG Americas Securities LLC raised its holdings in CONMED by 3,041.3% during the third quarter. SG Americas Securities LLC now owns 63,894 shares of the company's stock worth $3,005,000 after purchasing an additional 61,860 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of CONMED by 31.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company's stock valued at $7,919,000 after buying an additional 40,697 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in CONMED in the second quarter valued at $1,397,000. Finally, Fisher Asset Management LLC boosted its holdings in CONMED by 9.3% during the third quarter. Fisher Asset Management LLC now owns 397,046 shares of the company's stock worth $18,673,000 after buying an additional 33,725 shares in the last quarter.

CONMED Price Performance

CNMD stock opened at $36.51 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. CONMED Corporation has a 52-week low of $35.37 and a 52-week high of $61.25. The stock's 50 day moving average is $40.96 and its two-hundred day moving average is $43.33. The company has a market capitalization of $1.13 billion, a PE ratio of 24.18, a P/E/G ratio of 1.61 and a beta of 0.91.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, January 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The company had revenue of $373.20 million during the quarter, compared to analysts' expectations of $366.88 million. During the same period in the prior year, the business posted $1.34 EPS. The business's revenue was up 7.9% on a year-over-year basis. Analysts predict that CONMED Corporation will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on CNMD shares. Zacks Research upgraded CONMED from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. Wells Fargo & Company raised shares of CONMED to a "hold" rating in a research note on Wednesday, March 18th. Wall Street Zen lowered CONMED from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC reiterated a "hold" rating on shares of CONMED in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CONMED in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $50.17.

About CONMED

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.

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