Natixis Raises Position in CONMED Co. (NYSE:CNMD)

Natixis increased its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 1,069.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,000 shares of the company's stock after purchasing an additional 104,250 shares during the period. Natixis owned 0.37% of CONMED worth $7,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of CONMED by 1.2% during the third quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock worth $49,879,000 after buying an additional 8,274 shares during the period. Principal Financial Group Inc. lifted its position in CONMED by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 620,715 shares of the company's stock worth $44,631,000 after acquiring an additional 25,047 shares during the period. GAMMA Investing LLC grew its stake in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of CONMED by 31.5% in the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock valued at $5,141,000 after purchasing an additional 17,633 shares during the last quarter. Finally, Tealwood Asset Management Inc. acquired a new position in shares of CONMED in the fourth quarter valued at approximately $1,142,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company lowered their target price 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 target on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Three research 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, CONMED has a consensus rating of "Moderate Buy" and an average target price of $77.20.

CONMED Price Performance

Shares of CNMD stock traded up $1.28 during midday trading on Thursday, reaching $50.99. 347,229 shares of the company traded hands, compared to its average volume of 460,288. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58. The firm has a market cap of $1.58 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The firm's 50 day simple moving average is $57.48 and its two-hundred day simple moving average is $65.33. 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 (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, equities research analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued 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 1.57%. CONMED's dividend payout ratio (DPR) 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.