Alliancebernstein L.P. Grows Stock Position in CONMED Co. (NYSE:CNMD)

Alliancebernstein L.P. raised its position in CONMED Co. (NYSE:CNMD - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,716 shares of the company's stock after buying an additional 9,647 shares during the quarter. Alliancebernstein L.P. owned about 0.30% of CONMED worth $6,277,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew 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 buying an additional 351 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after acquiring an additional 485 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after acquiring an additional 322 shares during the period. CIBC Asset Management Inc purchased a new position in shares of CONMED in the fourth quarter valued at $210,000. Finally, bLong Financial LLC bought a new stake in shares of CONMED during the 4th quarter valued at $226,000.

Analyst Ratings Changes

Several brokerages have commented on CNMD. JPMorgan Chase & Co. downgraded CONMED from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Needham & Company LLC cut their price objective on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus upped 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. Finally, Wells Fargo & Company lowered their target price 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.20.

CONMED Price Performance

Shares of CNMD stock traded up $0.50 during trading on Friday, hitting $48.53. The company had a trading volume of 390,904 shares, compared to its average volume of 463,645. The stock's 50-day moving average is $58.69 and its two-hundred day moving average is $65.84. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. 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 Co. has a 52 week low of $47.25 and a 52 week high of $78.58.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) 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, analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio is currently 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.