Russell Investments Group Ltd. Sells 1,978 Shares of CONMED Co. (NYSE:CNMD)

Russell Investments Group Ltd. decreased its position in shares of CONMED Co. (NYSE:CNMD) by 10.1% in the 4th quarter, HoldingsChannel reports. The fund owned 17,517 shares of the company’s stock after selling 1,978 shares during the period. Russell Investments Group Ltd.’s holdings in CONMED were worth $1,199,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CNMD. Integrated Quantitative Investments LLC acquired a new stake in shares of CONMED in the 4th quarter worth about $947,000. Bryce Point Capital LLC bought a new stake in CONMED during the 4th quarter worth approximately $473,000. Trexquant Investment LP purchased a new stake in shares of CONMED in the fourth quarter worth approximately $2,645,000. Alliancebernstein L.P. lifted its holdings in shares of CONMED by 11.8% in the fourth quarter. Alliancebernstein L.P. now owns 91,716 shares of the company’s stock valued at $6,277,000 after purchasing an additional 9,647 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of CONMED by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 542,966 shares of the company’s stock valued at $37,161,000 after buying an additional 46,582 shares during the last quarter.

Analyst Upgrades and Downgrades

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

CONMED Price Performance

CNMD opened at $48.53 on Monday. The firm has a 50-day moving average of $58.36 and a 200 day moving average of $65.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a fifty-two week low of $47.25 and a fifty-two week high of $78.58. The firm has a market cap of $1.50 billion, a P/E ratio of 11.45, a PEG ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share 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%. On average, research analysts expect that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. CONMED’s dividend payout ratio is presently 18.87%.

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.