abrdn plc Has $9.40 Million Holdings in CONMED Co. (NYSE:CNMD)

abrdn plc trimmed its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,937 shares of the company's stock after selling 29,841 shares during the period. abrdn plc owned about 0.44% of CONMED worth $9,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNMD. The Manufacturers Life Insurance Company lifted its position in CONMED by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,171 shares of the company's stock worth $1,190,000 after buying an additional 1,154 shares in the last quarter. Creative Planning raised its holdings in shares of CONMED by 83.6% during the 2nd quarter. Creative Planning now owns 7,136 shares of the company's stock valued at $495,000 after purchasing an additional 3,250 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of CONMED during the 2nd quarter valued at $913,000. SG Americas Securities LLC raised its holdings in shares of CONMED by 117.6% during the 3rd quarter. SG Americas Securities LLC now owns 10,924 shares of the company's stock valued at $786,000 after purchasing an additional 5,903 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company's stock valued at $90,000 after purchasing an additional 332 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CNMD. Stifel Nicolaus lifted their target price on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Wells Fargo & Company decreased 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 report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $70.00 in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.20.

CONMED Price Performance

Shares of CONMED stock traded down $2.28 during trading on Tuesday, hitting $65.04. 481,560 shares of the company's stock traded hands, compared to its average volume of 467,261. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $88.60. The company has a market cap of $2.01 billion, a PE ratio of 15.34, a PEG ratio of 1.05 and a beta of 1.46. The firm's fifty day moving average price is $70.01 and its 200 day moving average price is $70.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. Analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, December 20th. CONMED's dividend payout ratio (DPR) 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.