Tealwood Asset Management Inc. Takes Position in CONMED Co. (NYSE:CNMD)

Tealwood Asset Management Inc. acquired a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,692 shares of the company's stock, valued at approximately $1,142,000. Tealwood Asset Management Inc. owned about 0.05% of CONMED as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in CONMED by 93.6% during the fourth 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. CWM LLC grew its position in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company's stock valued at $90,000 after acquiring an additional 332 shares during the period. nVerses Capital LLC increased its stake in shares of CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company's stock worth $144,000 after purchasing an additional 1,700 shares in the last quarter. Federated Hermes Inc. bought a new position in CONMED in the 2nd quarter worth $167,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in CONMED during the third quarter valued at $206,000.

Analyst Upgrades and Downgrades

CNMD has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $97.00 price objective on shares of CONMED in a research note on Thursday, October 31st. StockNews.com lowered shares of CONMED from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.80.

CONMED Price Performance

NYSE CNMD traded down $1.91 during trading hours on Tuesday, reaching $67.59. The company's stock had a trading volume of 523,328 shares, compared to its average volume of 363,791. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $111.10. The firm's 50-day moving average price is $71.85 and its 200-day moving average price is $70.05. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.94 and a beta of 1.47.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. On average, equities research analysts predict that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. CONMED's dividend payout ratio (DPR) is 19.00%.

CONMED 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.