CONMED Co. (NYSE:CNMD) Shares Bought by AMI Asset Management Corp

AMI Asset Management Corp lifted its holdings in shares of CONMED Co. (NYSE:CNMD) by 41.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,470 shares of the company’s stock after purchasing an additional 6,008 shares during the period. AMI Asset Management Corp owned about 0.07% of CONMED worth $1,401,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after acquiring an additional 351 shares during the period. CWM LLC raised its stake in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares in the last quarter. nVerses Capital LLC lifted its stake in 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 purchasing an additional 1,700 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at about $167,000. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of CONMED during the third quarter valued at approximately $206,000.

Wall Street Analysts Forecast Growth

CNMD has been the topic of a number of research reports. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Stock Performance

Shares of CNMD opened at $67.75 on Tuesday. The company has a market capitalization of $2.09 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.73 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED Co. has a one year low of $61.05 and a one year high of $110.40. The company’s fifty day moving average price is $71.15 and its 200 day moving average price is $70.05.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. CONMED’s dividend payout ratio is currently 19.00%.

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.