6,912 Shares in CONMED Co. (NYSE:CNMD) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,912 shares of the company's stock, valued at approximately $473,000.

Several other large investors have also recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in CONMED in the fourth quarter valued at approximately $2,645,000. Alliancebernstein L.P. grew its stake in shares of CONMED by 11.8% in the fourth quarter. Alliancebernstein L.P. now owns 91,716 shares of the company's stock worth $6,277,000 after purchasing an additional 9,647 shares during the last quarter. Clearbridge Investments LLC increased its holdings in CONMED by 9.4% during the 4th quarter. Clearbridge Investments LLC now owns 542,966 shares of the company's stock valued at $37,161,000 after purchasing an additional 46,582 shares during the period. Prudential Financial Inc. lifted its holdings in CONMED by 38.3% in the 4th quarter. Prudential Financial Inc. now owns 45,972 shares of the company's stock worth $3,321,000 after buying an additional 12,722 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of CONMED by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock valued at $244,633,000 after buying an additional 44,777 shares during the period.

CONMED Stock Performance

Shares of NYSE CNMD traded down $4.71 during midday trading on Thursday, reaching $52.08. The company had a trading volume of 145,808 shares, compared to its average volume of 461,558. The stock has a market cap of $1.61 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The business's 50-day simple moving average is $61.08 and its 200 day simple moving average is $66.79. CONMED Co. has a 1 year low of $50.95 and a 1 year high of $80.54.

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 the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, analysts forecast that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio (DPR) is 18.87%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNMD shares. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC dropped their price objective on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of 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 report on Thursday, February 6th. Finally, Wells Fargo & Company lowered 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.20.

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.