CONMED Co. (NYSE:CNMD) Short Interest Up 9.4% in January

CONMED Co. (NYSE:CNMD - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 2,550,000 shares, a growth of 9.4% from the January 15th total of 2,330,000 shares. Based on an average daily volume of 431,000 shares, the days-to-cover ratio is currently 5.9 days.

Institutional Investors Weigh In On CONMED

Institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after purchasing an additional 332 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of CONMED by 3.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company's stock worth $672,000 after buying an additional 333 shares during the last quarter. Creative Planning raised its position in shares of CONMED by 6.1% during the 3rd quarter. Creative Planning now owns 7,574 shares of the company's stock valued at $545,000 after buying an additional 438 shares in the last quarter. nVerses Capital LLC lifted its holdings in shares of 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 last quarter. Finally, Blue Trust Inc. grew its position in CONMED by 26.5% in the third quarter. Blue Trust Inc. now owns 3,121 shares of the company's stock worth $216,000 after acquiring an additional 653 shares in the last quarter.

CONMED Stock Performance

NYSE CNMD traded down $1.69 during trading hours on Thursday, reaching $61.33. 380,744 shares of the company were exchanged, compared to its average volume of 479,646. The stock has a market capitalization of $1.89 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.88 and a beta of 1.46. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. CONMED has a 1 year low of $60.74 and a 1 year high of $86.96. The business's 50 day simple moving average is $68.75 and its 200-day simple moving average is $69.83.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. On average, equities research analysts expect that CONMED will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. CONMED's dividend payout ratio is 18.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. StockNews.com downgraded CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price objective 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 dropped their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Finally, Needham & Company LLC decreased their price target on 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 issued a buy rating to the company's stock. According to MarketBeat.com, CONMED currently has a consensus rating of "Moderate Buy" and an average price target of $77.20.

About CONMED

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.