SG Americas Securities LLC Sells 51,018 Shares of CONMED Corporation $CNMD

Key Points

• SG Americas Securities LLC cut its stake in CONMED by 79.8% in Q4, selling 51,018 shares and leaving 12,876 shares valued at about $523,000.
• Other institutional activity was notable: Tributary Capital bought a new stake worth roughly $19.55 million, while Fisher, Envestnet and Tudor materially increased their CONMED holdings.
• Analyst sentiment is mixed-to-negative—MarketBeat shows an average rating of Reduce with a $50.17 target, alongside recent downgrades such as Piper Sandler cutting its price target to $39 and Weiss reiterating a sell.

SG Americas Securities LLC cut its stake in CONMED Corporation (NYSE:CNMD - Free Report) by 79.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,876 shares of the company's stock after selling 51,018 shares during the period. SG Americas Securities LLC's holdings in CONMED were worth $523,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new stake in CONMED in the third quarter valued at approximately $19,549,000. Envestnet Asset Management Inc. boosted its holdings in CONMED by 31.9% in the third quarter. Envestnet Asset Management Inc. now owns 168,380 shares of the company's stock valued at $7,919,000 after acquiring an additional 40,697 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in CONMED by 9.3% in the third quarter. Fisher Asset Management LLC now owns 397,046 shares of the company's stock valued at $18,673,000 after acquiring an additional 33,725 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in CONMED by 200.9% in the third quarter. Tudor Investment Corp ET AL now owns 124,944 shares of the company's stock valued at $5,876,000 after acquiring an additional 83,418 shares during the last quarter. Finally, Villanova Investment Management Co LLC bought a new stake in CONMED in the third quarter valued at approximately $2,763,000.

Wall Street Analyst Weigh In

CNMD has been the subject of several recent analyst reports. Zacks Research raised shares of 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 report on Wednesday, March 18th. Piper Sandler downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $39.00 in a research report on Tuesday, March 17th. Wall Street Zen downgraded shares of CONMED from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 6th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of CONMED in a report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, CONMED presently has an average rating of "Reduce" and an average target price of $50.17.

CONMED Trading Down 0.0%

Shares of CONMED stock opened at $36.74 on Monday. CONMED Corporation has a 1 year low of $33.21 and a 1 year high of $61.08. The firm has a market cap of $1.11 billion, a PE ratio of 24.33, a P/E/G ratio of 1.61 and a beta of 0.99. The stock has a fifty day moving average price of $39.61 and a 200-day moving average price of $41.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.14 and a quick ratio of 1.01.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share (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 firm had revenue of $373.20 million during the quarter, compared to analyst estimates of $366.88 million. During the same period last year, the firm posted $1.34 EPS. The business's revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that CONMED Corporation will post 4.35 EPS for the current year.

CONMED 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.

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