Congress Wealth Management LLC DE Has $598,000 Position in CONMED Co. (NYSE:CNMD)

Congress Wealth Management LLC DE lowered its position in CONMED Co. (NYSE:CNMD - Free Report) by 57.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,740 shares of the company's stock after selling 11,607 shares during the quarter. Congress Wealth Management LLC DE's holdings in CONMED were worth $598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings 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 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 valued at $113,000 after acquiring an additional 485 shares in the last quarter. Smartleaf Asset Management LLC increased its position in CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after purchasing an additional 322 shares during the period. CIBC Asset Management Inc acquired a new stake in CONMED in the fourth quarter valued at $210,000. Finally, bLong Financial LLC purchased a new stake in CONMED during the fourth quarter worth about $226,000.

CONMED Price Performance

NYSE:CNMD traded up $0.28 during mid-day trading on Wednesday, reaching $59.68. 37,993 shares of the stock were exchanged, compared to its average volume of 452,715. CONMED Co. has a 1-year low of $55.22 and a 1-year high of $80.65. The business has a fifty day moving average price of $63.40 and a 200 day moving average price of $67.76. The firm has a market capitalization of $1.84 billion, a PE ratio of 14.05, a PEG ratio of 1.83 and a beta of 1.53. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

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CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly 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 14.31%. Research analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED's payout ratio is presently 18.87%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC dropped their price target 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 lifted their price objective on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded CONMED from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CONMED has a consensus rating of "Moderate Buy" and an average 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.