Integrated Quantitative Investments LLC bought a new position in shares of CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,830 shares of the company's stock, valued at approximately $947,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CNMD. GAMMA Investing LLC boosted its holdings in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after acquiring an additional 351 shares in the last quarter. Pacer Advisors Inc. increased its position in CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after acquiring an additional 485 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after acquiring an additional 322 shares during the last quarter. CIBC Asset Management Inc bought a new position in CONMED during the 4th quarter worth $210,000. Finally, bLong Financial LLC acquired a new position in CONMED during the 4th quarter worth about $226,000.
CONMED Trading Up 0.9 %
Shares of NYSE:CNMD traded up $0.48 during mid-day trading on Wednesday, hitting $52.35. The company had a trading volume of 240,803 shares, compared to its average volume of 459,356. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a one year low of $51.01 and a one year high of $80.65. The firm has a fifty day moving average price of $61.66 and a 200 day moving average price of $66.99. The company has a market capitalization of $1.62 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.
CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly 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 return on equity of 14.31% and a net margin of 10.13%. As a group, research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.
CONMED Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's payout ratio is currently 18.87%.
Analysts Set New Price Targets
CNMD has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Stifel Nicolaus increased their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.
Read Our Latest Stock Analysis 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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