LPL Financial LLC Has $885,000 Stake in CONMED Co. (NYSE:CNMD)

LPL Financial LLC decreased its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,929 shares of the company's stock after selling 8,917 shares during the quarter. LPL Financial LLC's holdings in CONMED were worth $885,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CNMD. GAMMA Investing LLC grew its stake in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after purchasing an additional 351 shares during the period. Pacer Advisors Inc. raised its stake in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after buying an additional 485 shares during the last quarter. Smartleaf Asset Management LLC raised its position in CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after acquiring an additional 322 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in CONMED during the 4th quarter valued at $210,000. Finally, Blue Trust Inc. lifted its stake in shares of CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock valued at $235,000 after buying an additional 145 shares during the period.

Analyst Upgrades and Downgrades

CNMD has been the topic of several research reports. Wells Fargo & Company cut 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. Stifel Nicolaus increased their price objective on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, 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 report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, CONMED has an average rating of "Moderate Buy" and an average target price of $77.20.

CONMED Stock Performance

CNMD stock traded down $0.16 on Friday, reaching $50.84. 238,063 shares of the company were exchanged, compared to its average volume of 459,493. The stock's fifty day moving average price is $57.23 and its 200 day moving average price is $65.24. 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 12 month low of $46.00 and a 12 month high of $78.58. The firm has a market capitalization of $1.57 billion, a PE ratio of 11.96, a PEG ratio of 1.83 and a beta of 1.28.

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, beating 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, research analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio is 18.87%.

CONMED Company Profile

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.