Magnetar Financial LLC cut its position in CONMED Co. (NYSE:CNMD - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,067 shares of the company's stock after selling 34,496,933 shares during the period. Magnetar Financial LLC's holdings in CONMED were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of CNMD. Intech Investment Management LLC lifted its position in shares of CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company's stock worth $1,145,000 after buying an additional 10,187 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company's stock valued at $27,431,000 after acquiring an additional 16,340 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in CONMED by 17.0% in the third quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company's stock valued at $9,366,000 after acquiring an additional 18,545 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of CONMED by 5.5% during the third quarter. Fisher Asset Management LLC now owns 295,290 shares of the company's stock worth $21,237,000 after purchasing an additional 15,512 shares during the last quarter. Finally, Millrace Asset Group Inc. acquired a new stake in shares of CONMED during the third quarter worth about $1,665,000.
CONMED Stock Performance
Shares of NYSE:CNMD traded down $0.43 during midday trading on Thursday, hitting $59.92. The stock had a trading volume of 198,474 shares, compared to its average volume of 438,734. CONMED Co. has a 1 year low of $55.22 and a 1 year high of $81.22. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $64.10 and a two-hundred day moving average price of $68.20. The company has a market capitalization of $1.85 billion, a PE ratio of 14.13, a P/E/G ratio of 1.83 and a beta of 1.53.
CONMED (NYSE:CNMD - Get Free Report) last announced 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 return on equity of 14.31% and a net margin of 10.13%. As a group, equities analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.
CONMED Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED's dividend payout ratio (DPR) is currently 18.87%.
Analyst Upgrades and Downgrades
CNMD has been the topic of a number of research reports. Stifel Nicolaus raised their price target on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Finally, Needham & Company LLC dropped 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.20.
Read Our Latest Research Report on CNMD
About CONMED
(
Free Report)
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.
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