Geode Capital Management LLC Has $49.88 Million Position in CONMED Co. (NYSE:CNMD)

Geode Capital Management LLC grew its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 693,400 shares of the company's stock after acquiring an additional 8,274 shares during the quarter. Geode Capital Management LLC owned about 2.24% of CONMED worth $49,879,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CNMD. Arizona State Retirement System raised its position in CONMED by 2.0% during the second quarter. Arizona State Retirement System now owns 8,619 shares of the company's stock valued at $597,000 after purchasing an additional 168 shares in the last quarter. HighTower Advisors LLC raised 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 worth $512,000 after buying an additional 275 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company's stock worth $419,000 after buying an additional 280 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in CONMED by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company's stock valued at $1,074,000 after buying an additional 300 shares in the last quarter. Finally, CWM LLC grew its position in CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company's stock valued at $90,000 after acquiring an additional 332 shares during the last quarter.

CONMED Trading Up 0.8 %

Shares of NYSE:CNMD traded up $0.55 during midday trading on Monday, hitting $69.18. 405,691 shares of the stock were exchanged, compared to its average volume of 481,711. The business's 50-day moving average price is $70.57 and its 200 day moving average price is $70.21. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $114.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.94 and a beta of 1.46.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Analysts predict that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, December 20th. CONMED's dividend payout ratio is currently 19.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on CNMD. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Needham & Company LLC reissued a "buy" rating and issued a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

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.