CIBC Asset Management Inc Purchases Shares of 3,067 CONMED Co. (NYSE:CNMD)

CIBC Asset Management Inc purchased a new stake in shares of CONMED Co. (NYSE:CNMD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,067 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the period. Pacer Advisors Inc. grew its stake in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after purchasing an additional 485 shares during the period. Blue Trust Inc. grew its stake in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after purchasing an additional 145 shares during the period. bLong Financial LLC bought a new stake in shares of CONMED during the 4th quarter valued at about $226,000. Finally, PEAK6 Investments LLC bought a new stake in shares of CONMED during the 3rd quarter valued at about $275,000.

CONMED Stock Down 2.1 %

CNMD stock opened at $61.43 on Thursday. The business’s 50-day moving average price is $67.78 and its 200-day moving average price is $69.66. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a twelve month low of $59.50 and a twelve month high of $86.96. The stock has a market cap of $1.90 billion, a P/E ratio of 14.49, a PEG ratio of 1.83 and a beta of 1.46.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, equities research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. CONMED’s dividend payout ratio is presently 18.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNMD shares. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC lowered their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

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.