Neuberger Berman Group LLC Makes New Investment in CONMED Co. (NYSE:CNMD)

Neuberger Berman Group LLC acquired a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 312,473 shares of the company's stock, valued at approximately $21,395,000. Neuberger Berman Group LLC owned approximately 1.01% of CONMED as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in CONMED during the 4th quarter worth approximately $18,248,000. Integrated Quantitative Investments LLC purchased a new position in shares of CONMED during the 4th quarter worth about $947,000. Bryce Point Capital LLC bought a new stake in shares of CONMED during the fourth quarter worth $473,000. Trexquant Investment LP bought a new position in CONMED in the fourth quarter worth approximately $2,645,000. Finally, Alliancebernstein L.P. raised its holdings in shares of CONMED by 11.8% in the 4th quarter. Alliancebernstein L.P. now owns 91,716 shares of the company's stock valued at $6,277,000 after purchasing an additional 9,647 shares in the last quarter.

Analyst Ratings Changes

CNMD has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective 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. 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 research note on Thursday, February 6th. Stifel Nicolaus lifted their target price on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.20.

CONMED Stock Down 0.3 %

NYSE:CNMD traded down $0.14 during trading hours on Wednesday, hitting $48.35. The stock had a trading volume of 170,882 shares, compared to its average volume of 464,569. The business has a 50 day simple moving average of $59.43 and a two-hundred day simple moving average of $66.13. The company has a market cap of $1.50 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. CONMED Co. has a 1-year low of $47.69 and a 1-year high of $78.58. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results 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%. Analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. CONMED's dividend payout ratio is presently 18.87%.

CONMED 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.