Raymond James Financial Inc. Purchases New Position in CONMED Co. (NYSE:CNMD)

Raymond James Financial Inc. acquired a new position in CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 266,625 shares of the company's stock, valued at approximately $18,248,000. Raymond James Financial Inc. owned approximately 0.86% of CONMED as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Integrated Quantitative Investments LLC acquired a new stake in CONMED in the 4th quarter valued at $947,000. Bryce Point Capital LLC acquired a new stake in shares of CONMED in the fourth quarter valued at about $473,000. Trexquant Investment LP purchased a new stake in shares of CONMED during the 4th quarter valued at about $2,645,000. Alliancebernstein L.P. lifted its position in CONMED by 11.8% during the 4th quarter. Alliancebernstein L.P. now owns 91,716 shares of the company's stock worth $6,277,000 after acquiring an additional 9,647 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in CONMED by 9.4% during the 4th quarter. Clearbridge Investments LLC now owns 542,966 shares of the company's stock worth $37,161,000 after acquiring an additional 46,582 shares in the last quarter.

CONMED Trading Up 2.2 %

Shares of NYSE:CNMD traded up $1.08 during mid-day trading on Thursday, hitting $50.79. The stock had a trading volume of 199,026 shares, compared to its average volume of 504,327. CONMED Co. has a 12-month low of $46.00 and a 12-month high of $78.58. 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 market cap of $1.57 billion, a PE ratio of 11.98, a P/E/G ratio of 1.83 and a beta of 1.28. The company's 50 day moving average is $57.48 and its 200-day moving average is $65.33.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results 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 10.13% and a return on equity of 14.31%. On average, sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio is 18.87%.

Analysts Set New Price Targets

A number of research firms have weighed in on CNMD. 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 research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus upped their target price on CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.