Proficio Capital Partners LLC Makes New $909,000 Investment in CONMED Co. (NYSE:CNMD)

Proficio Capital Partners LLC acquired a new position in shares of CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,277 shares of the company's stock, valued at approximately $909,000.

Several other hedge funds have also recently bought and sold shares of the stock. Champlain Investment Partners LLC lifted its holdings in CONMED by 6.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company's stock worth $98,361,000 after purchasing an additional 81,970 shares during the last quarter. Geode Capital Management LLC increased its position in CONMED by 1.2% during the 3rd 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 holdings in shares of CONMED by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company's stock worth $42,780,000 after buying an additional 4,343 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of CONMED by 0.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company's stock valued at $36,090,000 after acquiring an additional 4,032 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of CONMED by 41.4% in the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock valued at $28,569,000 after acquiring an additional 122,140 shares during the period.

CONMED Price Performance

Shares of CONMED stock traded down $1.10 on Tuesday, reaching $59.70. 550,265 shares of the stock were exchanged, compared to its average volume of 440,322. 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 firm has a market cap of $1.85 billion, a PE ratio of 14.08, a P/E/G ratio of 1.83 and a beta of 1.53. The firm's 50 day moving average is $64.41 and its 200-day moving average is $68.35. CONMED Co. has a one year low of $55.22 and a one year high of $81.22.

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CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED's dividend payout ratio is presently 18.87%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CNMD shares. JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Needham & Company LLC lowered their target price 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. Stifel Nicolaus boosted their price target on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, CONMED currently has a consensus rating of "Moderate Buy" and an average target price of $77.20.

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.