KLP Kapitalforvaltning AS Purchases New Holdings in CONMED Co. (NYSE:CNMD)

KLP Kapitalforvaltning AS bought a new position in CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,300 shares of the company's stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after acquiring an additional 351 shares during the period. Pacer Advisors Inc. lifted its position in shares of CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after purchasing an additional 485 shares during the period. Smartleaf Asset Management LLC boosted 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 purchasing an additional 322 shares in the last quarter. CIBC Asset Management Inc purchased a new position in CONMED during the fourth quarter valued at approximately $210,000. Finally, bLong Financial LLC bought a new position in CONMED in the fourth quarter worth approximately $226,000.

Wall Street Analysts Forecast Growth

CNMD has been the topic of several recent research reports. Stifel Nicolaus increased their target price on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC cut their target price on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded 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 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.20.

CONMED Stock Up 9.5 %

NYSE CNMD traded up $4.95 during trading on Wednesday, hitting $56.82. The company's stock had a trading volume of 904,227 shares, compared to its average volume of 462,724. 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 fifty-two week low of $51.01 and a fifty-two week high of $80.54. The company has a market cap of $1.76 billion, a PE ratio of 13.40, a P/E/G ratio of 1.83 and a beta of 1.28. The business's 50 day simple moving average is $61.08 and its 200-day simple moving average is $66.79.

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 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%. On average, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. 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.