Oak Family Advisors LLC Decreases Stake in CONMED Co. (NYSE:CNMD)

Oak Family Advisors LLC reduced its stake in CONMED Co. (NYSE:CNMD - Free Report) by 69.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,116 shares of the company's stock after selling 7,237 shares during the quarter. Oak Family Advisors LLC's holdings in CONMED were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CNMD. Champlain Investment Partners LLC grew its holdings in shares of CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company's stock valued at $98,361,000 after purchasing an additional 81,970 shares during the period. Geode Capital Management LLC boosted its holdings in CONMED by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock valued at $49,879,000 after purchasing an additional 8,274 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of CONMED by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 620,715 shares of the company's stock valued at $44,631,000 after buying an additional 25,047 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in shares of CONMED by 0.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company's stock worth $36,090,000 after buying an additional 4,032 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CONMED by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company's stock valued at $27,431,000 after buying an additional 16,340 shares during the period.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus increased their price objective on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday. Needham & Company LLC lowered their price target on CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a report on Thursday. StockNews.com downgraded CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $70.00 in a research report on Thursday. Three research 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.

CONMED Trading Down 8.9 %

CNMD traded down $6.57 during mid-day trading on Thursday, hitting $67.43. 1,231,673 shares of the stock were exchanged, compared to its average volume of 449,111. The company has a market cap of $2.08 billion, a PE ratio of 16.02, a PEG ratio of 1.04 and a beta of 1.46. 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's fifty day moving average is $70.53 and its two-hundred day moving average is $70.20. CONMED Co. has a 1-year low of $61.05 and a 1-year high of $88.60.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Equities analysts forecast that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, December 20th. CONMED's dividend payout ratio is currently 19.00%.

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.