Barclays PLC Decreases Stock Holdings in CONMED Co. (NYSE:CNMD)

Barclays PLC lessened its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 88.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 262,312 shares of the company's stock after selling 1,947,475 shares during the quarter. Barclays PLC owned approximately 0.85% of CONMED worth $17,951,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC raised its position in CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock valued at $512,000 after purchasing an additional 275 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CONMED by 1.2% during the third quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock valued at $49,879,000 after buying an additional 8,274 shares during the period. Principal Financial Group Inc. raised its holdings in shares of CONMED by 4.2% during the third quarter. Principal Financial Group Inc. now owns 620,715 shares of the company's stock valued at $44,631,000 after acquiring an additional 25,047 shares in the last quarter. GAMMA Investing LLC lifted its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after acquiring an additional 351 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in CONMED by 31.5% in the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock valued at $5,141,000 after acquiring an additional 17,633 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CNMD shares. JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their target price on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus raised their target price on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.20.

CONMED Stock Up 3.6 %

Shares of CNMD traded up $1.73 during trading hours on Wednesday, hitting $49.75. The company had a trading volume of 608,842 shares, compared to its average volume of 463,941. CONMED Co. has a 52-week low of $46.00 and a 52-week high of $78.58. The firm has a fifty day moving average price of $57.74 and a 200-day moving average price of $65.43. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (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 14.31%. On average, equities research analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio is currently 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.