AMI Asset Management Corp Has $1.40 Million Stock Position in CONMED Co. (NYSE:CNMD)

AMI Asset Management Corp lifted its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 41.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,470 shares of the company's stock after purchasing an additional 6,008 shares during the period. AMI Asset Management Corp owned approximately 0.07% of CONMED worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. CWM LLC lifted its stake in CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after acquiring an additional 332 shares in the last quarter. nVerses Capital LLC boosted its position in CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $144,000 after acquiring an additional 1,700 shares during the period. Federated Hermes Inc. acquired a new stake in CONMED during the 2nd quarter worth about $167,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of CONMED in the 3rd quarter valued at about $206,000.

CONMED Stock Up 5.0 %

Shares of CONMED stock traded up $3.35 during midday trading on Tuesday, reaching $71.04. 519,386 shares of the company's stock traded hands, compared to its average volume of 379,749. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $103.81. The company's 50 day simple moving average is $71.15 and its 200 day simple moving average is $70.05. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.73 and a beta of 1.47.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. Equities analysts expect that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, December 20th. CONMED's dividend payout ratio is 19.00%.

Analysts Set New Price Targets

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

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.