266,625 Shares in CONMED Co. (NYSE:CNMD) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of CONMED Co. (NYSE:CNMD) in the fourth quarter, HoldingsChannel reports. The fund acquired 266,625 shares of the company’s stock, valued at approximately $18,248,000.

A number of other institutional investors have also made changes to their positions in CNMD. Atria Investments Inc grew its stake in shares of CONMED by 28.9% during the third quarter. Atria Investments Inc now owns 14,216 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,189 shares during the period. Natixis Advisors LLC grew its stake in CONMED by 36.6% in the third quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock valued at $7,977,000 after acquiring an additional 29,720 shares during the period. Aurora Investment Counsel acquired a new position in CONMED in the third quarter valued at about $1,100,000. Intech Investment Management LLC grew its stake in CONMED by 177.6% in the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after acquiring an additional 10,187 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock valued at $27,431,000 after acquiring an additional 16,340 shares during the period.

Wall Street Analysts Forecast Growth

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

CONMED Stock Performance

CNMD opened at $61.46 on Tuesday. CONMED Co. has a 52-week low of $55.22 and a 52-week high of $81.22. The firm has a market capitalization of $1.90 billion, a PE ratio of 14.50, a PEG ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The business’s 50-day simple moving average is $65.32 and its 200 day simple moving average is $68.81.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, sell-side analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

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

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.