Raymond James Financial Inc. Invests $18.25 Million in CONMED Co. (NYSE:CNMD)

Raymond James Financial Inc. acquired a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 266,625 shares of the company's stock, valued at approximately $18,248,000. Raymond James Financial Inc. owned 0.86% of CONMED as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 351 shares during the period. Pacer Advisors Inc. grew its position in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after acquiring an additional 485 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after purchasing an additional 322 shares during the period. CIBC Asset Management Inc acquired a new position in shares of CONMED during the fourth quarter worth $210,000. Finally, Blue Trust Inc. boosted its stake in shares of CONMED by 4.6% in the fourth 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.

Analyst Ratings Changes

CNMD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Stifel Nicolaus boosted their price target on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research note 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 for the company in a research note on Thursday, February 6th. Finally, Needham & Company LLC reduced 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.

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CONMED Stock Performance

CNMD traded up $0.67 during trading hours on Friday, hitting $59.63. 577,630 shares of the stock were exchanged, compared to its average volume of 442,451. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The stock has a 50-day simple moving average of $64.76 and a 200-day simple moving average of $68.58. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a 12 month low of $55.22 and a 12 month high of $81.22.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED's payout ratio is 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.