Nordea Investment Management AB Acquires 17,633 Shares of CONMED Co. (NYSE:CNMD)

Nordea Investment Management AB raised its position in shares of CONMED Co. (NYSE:CNMD - Free Report) by 31.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 73,587 shares of the company's stock after purchasing an additional 17,633 shares during the quarter. Nordea Investment Management AB owned 0.24% of CONMED worth $5,141,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Arizona State Retirement System grew its position in CONMED by 2.0% during the second quarter. Arizona State Retirement System now owns 8,619 shares of the company's stock valued at $597,000 after buying an additional 168 shares during the period. HighTower Advisors LLC raised its holdings in CONMED by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock worth $512,000 after purchasing an additional 275 shares during the period. QRG Capital Management Inc. raised its stake in shares of CONMED by 5.0% in the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company's stock worth $419,000 after buying an additional 280 shares during the period. CWM LLC boosted its position in shares of CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after purchasing an additional 332 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in CONMED by 3.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company's stock worth $672,000 after buying an additional 333 shares during the period.

CONMED Price Performance

Shares of NYSE:CNMD traded up $0.03 on Friday, reaching $68.79. The company's stock had a trading volume of 510,500 shares, compared to its average volume of 333,767. The company has a 50-day simple moving average of $71.87 and a 200 day simple moving average of $70.02. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company has a market cap of $2.12 billion, a P/E ratio of 16.34, a PEG ratio of 0.94 and a beta of 1.47. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $113.68.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The company had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. As a group, equities research analysts anticipate that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.16%. CONMED's payout ratio is presently 19.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNMD shares. StockNews.com lowered CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

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.