Prudential Financial Inc. Grows Stock Holdings in CONMED Co. (NYSE:CNMD)

Prudential Financial Inc. raised its position in shares of CONMED Co. (NYSE:CNMD - Free Report) by 38.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,972 shares of the company's stock after acquiring an additional 12,722 shares during the quarter. Prudential Financial Inc. owned approximately 0.15% of CONMED worth $3,321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of CONMED during the fourth quarter valued at approximately $18,248,000. Fisher Asset Management LLC increased its position in CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock valued at $28,569,000 after buying an additional 122,140 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in CONMED during the fourth quarter valued at $5,790,000. Allspring Global Investments Holdings LLC raised its stake in CONMED by 44.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in CONMED by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock worth $244,633,000 after acquiring an additional 44,777 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $85.00 to $70.00 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 report on Thursday, February 6th. Finally, Needham & Company LLC decreased their price objective on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $77.20.

CONMED Stock Performance

NYSE:CNMD traded down $0.90 during trading hours on Monday, reaching $55.34. The company had a trading volume of 732,264 shares, compared to its average volume of 457,637. The firm's 50 day moving average price is $62.42 and its 200-day moving average price is $67.26. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.83 and a beta of 1.28. 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 Co. has a 52 week low of $51.74 and a 52 week high of $80.65.

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 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%. On average, analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio (DPR) 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.