Allspring Global Investments Holdings LLC boosted its position in CONMED Co. (NYSE:CNMD - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,142 shares of the company's stock after acquiring an additional 68,696 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.72% of CONMED worth $15,029,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. CWM LLC increased its stake in CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company's stock valued at $90,000 after purchasing an additional 332 shares during the last quarter. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 485 shares during the last quarter. nVerses Capital LLC increased its stake in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock valued at $144,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in CONMED by 26.5% in the third quarter. Blue Trust Inc. now owns 3,121 shares of the company's stock valued at $216,000 after purchasing an additional 653 shares during the last quarter.
CONMED Price Performance
Shares of NYSE CNMD traded down $1.69 during trading on Thursday, hitting $61.33. 380,744 shares of the company were exchanged, compared to its average volume of 479,647. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.88 and a beta of 1.46. CONMED Co. has a 1 year low of $60.74 and a 1 year high of $86.96. The firm's fifty day moving average price is $68.75 and its 200 day moving average price is $69.83. 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 issued its 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 14.60%. On average, sell-side analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.
CONMED Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. CONMED's dividend payout ratio is presently 18.87%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Needham & Company LLC cut 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. Stifel Nicolaus lifted their target price on shares of CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective 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 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.20.
View Our Latest Stock Report on CNMD
CONMED Profile
(
Free Report)
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.
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