Proficio Capital Partners LLC bought a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,277 shares of the company's stock, valued at approximately $909,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of CNMD. GAMMA Investing LLC boosted its position in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after buying an additional 351 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after purchasing an additional 485 shares during the period. CIBC Asset Management Inc bought a new stake in shares of CONMED in the fourth quarter worth about $210,000. bLong Financial LLC bought a new stake in shares of CONMED in the fourth quarter worth about $226,000. Finally, Blue Trust Inc. increased its holdings in CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock valued at $235,000 after purchasing an additional 145 shares during the period.
CONMED Stock Performance
CNMD traded down $2.79 during midday trading on Wednesday, hitting $59.14. 324,124 shares of the company traded hands, compared to its average volume of 503,698. The company's 50-day moving average is $66.00 and its 200 day moving average is $69.17. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.83 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. CONMED Co. has a 52 week low of $55.22 and a 52 week high of $86.96.
CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.13% and a return on equity of 14.31%. On average, research analysts expect that CONMED Co. will post 4.35 EPS for the current year.
CONMED Announces Dividend
The company 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. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.35%. CONMED's payout ratio is 18.87%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC decreased their price target on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.20.
Check Out Our Latest Research Report on CONMED
CONMED Company Profile
(
Free Report)
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.
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