Clearbridge Investments LLC Has $37.16 Million Stake in CONMED Co. (NYSE:CNMD)

Clearbridge Investments LLC boosted its position in CONMED Co. (NYSE:CNMD - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 542,966 shares of the company's stock after purchasing an additional 46,582 shares during the quarter. Clearbridge Investments LLC owned about 1.76% of CONMED worth $37,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in CONMED by 1.3% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CONMED by 1.2% in the third quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock valued at $49,879,000 after acquiring an additional 8,274 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of CONMED by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company's stock valued at $42,780,000 after acquiring an additional 4,343 shares during the period. Fisher Asset Management LLC raised its holdings in CONMED by 41.4% during the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock worth $28,569,000 after purchasing an additional 122,140 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CONMED by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 382,950 shares of the company's stock worth $26,209,000 after purchasing an additional 1,537 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CNMD shares. JPMorgan Chase & Co. cut 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 research report on Thursday, February 6th. Wells Fargo & Company decreased their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price target on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their price target on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.20.

CONMED Price Performance

Shares of NYSE CNMD traded down $1.67 during mid-day trading on Friday, reaching $56.23. The company had a trading volume of 570,478 shares, compared to its average volume of 456,539. The company has a 50-day moving average price of $62.73 and a two-hundred day moving average price of $67.40. The stock has a market cap of $1.74 billion, a PE ratio of 13.26, 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. CONMED Co. has a 1-year low of $54.97 and a 1-year high of $80.65.

CONMED (NYSE:CNMD - Get Free Report) last issued 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 return on equity of 14.31% and a net margin of 10.13%. On average, equities analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio is 18.87%.

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.