Principal Financial Group Inc. Increases Stock Holdings in CONMED Co. (NYSE:CNMD)

Principal Financial Group Inc. boosted its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 625,058 shares of the company's stock after purchasing an additional 4,343 shares during the period. Principal Financial Group Inc. owned about 2.02% of CONMED worth $42,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of CONMED by 93.6% in the fourth 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. CWM LLC increased its position in CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company's stock worth $90,000 after purchasing an additional 332 shares during the last quarter. Pacer Advisors Inc. raised its stake in CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after purchasing an additional 485 shares in the last quarter. Blue Trust Inc. raised its stake in CONMED by 26.5% during the third quarter. Blue Trust Inc. now owns 3,121 shares of the company's stock valued at $216,000 after purchasing an additional 653 shares in the last quarter. Finally, bLong Financial LLC bought a new position in CONMED during the fourth quarter valued at $226,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of 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 cut their target price for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. StockNews.com lowered shares of CONMED from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Needham & Company LLC reduced 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. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $77.20.

CONMED Stock Down 0.5 %

NYSE CNMD traded down $0.32 on Friday, reaching $60.99. 575,985 shares of the stock traded hands, compared to its average volume of 482,479. CONMED Co. has a 12 month low of $59.50 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The company has a fifty day moving average price of $68.53 and a 200-day moving average price of $69.77. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.88 and a beta of 1.46.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (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%. As a group, research analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. CONMED's dividend 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.