CONMED Co. (NYSE:CNMD) Position Increased by Legato Capital Management LLC

Legato Capital Management LLC lifted its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,400 shares of the company's stock after buying an additional 7,997 shares during the quarter. Legato Capital Management LLC owned 0.09% of CONMED worth $1,875,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNMD. Nordea Investment Management AB grew its position in CONMED by 31.5% during the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock valued at $5,141,000 after acquiring an additional 17,633 shares during the period. Avity Investment Management Inc. purchased a new stake in shares of CONMED in the fourth quarter worth about $278,000. Intech Investment Management LLC boosted its position in shares of CONMED by 177.6% in the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company's stock worth $1,145,000 after buying an additional 10,187 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of CONMED in the third quarter worth about $1,665,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CONMED by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company's stock worth $4,823,000 after buying an additional 1,095 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNMD. Needham & Company LLC reduced 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. Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wells Fargo & Company reduced their price target on CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, CONMED has a consensus rating of "Moderate Buy" and an average target price of $77.20.

CONMED Stock Performance

CNMD traded down $1.32 during trading hours on Friday, hitting $63.05. The company's stock had a trading volume of 467,955 shares, compared to its average volume of 463,932. The company has a 50-day simple moving average of $69.43 and a 200 day simple moving average of $69.93. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $1.95 billion, a PE ratio of 14.87, a PEG ratio of 1.05 and a beta of 1.46. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $86.96.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, sell-side analysts expect that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. CONMED's payout ratio is currently 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.