Bridge City Capital LLC Purchases 7,597 Shares of CONMED Co. (NYSE:CNMD)

Bridge City Capital LLC boosted its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,056 shares of the company's stock after buying an additional 7,597 shares during the period. Bridge City Capital LLC owned about 0.14% of CONMED worth $3,015,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of CONMED during the fourth quarter valued at approximately $18,248,000. Fisher Asset Management LLC grew its position in CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock worth $28,569,000 after purchasing an additional 122,140 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in CONMED during the 4th quarter valued at $5,790,000. Champlain Investment Partners LLC lifted its holdings in shares of CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company's stock valued at $98,361,000 after purchasing an additional 81,970 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CONMED by 44.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock worth $15,029,000 after buying an additional 68,696 shares during the period.

CONMED Stock Down 0.7 %

Shares of NYSE CNMD traded down $0.43 during trading hours on Thursday, hitting $59.92. The stock had a trading volume of 198,474 shares, compared to its average volume of 438,376. The company has a market capitalization of $1.85 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.83 and a beta of 1.53. The firm's 50-day moving average price is $63.96 and its two-hundred day moving average price is $68.14. 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 52 week low of $55.22 and a 52 week high of $81.22.

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CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 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%. Analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal 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 given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. CONMED's dividend payout ratio is currently 18.87%.

Wall Street Analysts Forecast Growth

CNMD has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered CONMED from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus raised 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, Needham & Company LLC dropped their price objective 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, CONMED presently has an average rating of "Moderate Buy" and a consensus target price of $77.20.

CONMED 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.