CONMED Co. (NYSE:CNMD) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of CONMED Co. (NYSE:CNMD) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,574,420 shares of the company’s stock after buying an additional 44,777 shares during the quarter. Vanguard Group Inc. owned 0.12% of CONMED worth $244,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in 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 acquiring an additional 145 shares in the last quarter. HighTower Advisors LLC increased its position in CONMED by 4.1% during the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares in the last quarter. Epiq Partners LLC lifted its position in shares of CONMED by 2.2% in the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after acquiring an additional 302 shares in the last quarter. Smartleaf Asset Management LLC increased its position in CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 351 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on CNMD. Stifel Nicolaus raised their price objective on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Needham & Company LLC lowered 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. Finally, Wells Fargo & Company decreased their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Price Performance

Shares of NYSE:CNMD opened at $56.23 on Friday. The company’s fifty day moving average is $62.73 and its two-hundred day moving average is $67.46. The company has a market cap of $1.74 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. CONMED Co. has a 12-month low of $54.97 and a 12-month high of $80.65. 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 (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. CONMED’s payout ratio is currently 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.