Mutual of America Capital Management LLC Sells 26,533 Shares of CONMED Co. (NYSE:CNMD)

Mutual of America Capital Management LLC lessened its stake in CONMED Co. (NYSE:CNMD) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,680 shares of the company’s stock after selling 26,533 shares during the period. Mutual of America Capital Management LLC’s holdings in CONMED were worth $320,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNMD. Champlain Investment Partners LLC grew its position in CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after purchasing an additional 81,970 shares during the period. Allspring Global Investments Holdings LLC grew its position in CONMED by 44.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock worth $15,029,000 after purchasing an additional 68,696 shares during the period. Natixis Advisors LLC grew its position in CONMED by 36.6% in the 3rd quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock worth $7,977,000 after purchasing an additional 29,720 shares during the period. Principal Financial Group Inc. grew its position in CONMED by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 620,715 shares of the company’s stock worth $44,631,000 after purchasing an additional 25,047 shares during the period. Finally, Millrace Asset Group Inc. purchased a new position in shares of CONMED during the 3rd quarter worth $1,665,000.

Wall Street Analysts Forecast Growth

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

CONMED Price Performance

Shares of CNMD stock opened at $62.67 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The company has a market capitalization of $1.94 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.83 and a beta of 1.53. The company’s 50-day simple moving average is $66.13 and its two-hundred day simple moving average is $69.24. CONMED Co. has a one year low of $55.22 and a one year high of $86.96.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. CONMED’s payout ratio is 18.87%.

About CONMED

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.