Fisher Asset Management LLC Increases Stock Position in CONMED Co. (NYSE:CNMD)

Fisher Asset Management LLC increased its position in CONMED Co. (NYSE:CNMD - Free Report) by 41.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 417,430 shares of the company's stock after buying an additional 122,140 shares during the quarter. Fisher Asset Management LLC owned about 1.35% of CONMED worth $28,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after purchasing an additional 145 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of 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 acquiring an additional 275 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in CONMED by 5.0% in the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company's stock worth $419,000 after purchasing an additional 280 shares in the last quarter. Epiq Partners LLC lifted its position in CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company's stock worth $952,000 after acquiring an additional 302 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after acquiring an additional 351 shares during the period.

Analyst Ratings Changes

Several research analysts recently weighed in on CNMD shares. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Needham & Company LLC decreased 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. JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Stifel Nicolaus upped their target price on shares of CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.20.

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CONMED Trading Up 0.9 %

Shares of CONMED stock traded up $0.53 on Thursday, hitting $58.13. The stock had a trading volume of 176,034 shares, compared to its average volume of 440,526. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a one year low of $55.22 and a one year high of $86.96. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.83 and a beta of 1.53. The stock's 50-day simple moving average is $66.65 and its two-hundred day simple moving average is $69.37.

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%. As a group, sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, March 14th. CONMED's payout ratio is 18.87%.

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.