CONMED Co. (NYSE:CNMD) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,399 shares of the company's stock after selling 7,034 shares during the quarter. Great Lakes Advisors LLC owned about 0.34% of CONMED worth $7,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Champlain Investment Partners LLC increased its position in shares of CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company's stock valued at $98,361,000 after acquiring an additional 81,970 shares during the period. Geode Capital Management LLC grew its stake in CONMED by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock valued at $49,879,000 after purchasing an additional 8,274 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of CONMED by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company's stock valued at $42,780,000 after purchasing an additional 4,343 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of CONMED by 0.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company's stock worth $36,090,000 after purchasing an additional 4,032 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of 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 during the period.

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Analyst Ratings Changes

CNMD has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Needham & Company LLC cut their price objective on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, CONMED currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.

CONMED Stock Performance

Shares of NYSE:CNMD traded up $2.63 during trading on Monday, hitting $61.46. 526,322 shares of the stock traded hands, compared to its average volume of 445,725. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $65.46 and a two-hundred day moving average price of $68.89. CONMED Co. has a 52-week low of $55.22 and a 52-week high of $81.22. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.83 and a beta of 1.53.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. As a group, equities analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. 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.