Vanguard Group Inc. Has $244.63 Million Stock Position in CONMED Co. (NYSE:CNMD)

Vanguard Group Inc. lifted its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,574,420 shares of the company's stock after purchasing an additional 44,777 shares during the quarter. Vanguard Group Inc. owned 11.57% of CONMED worth $244,633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after buying an additional 145 shares during the period. HighTower Advisors LLC raised its holdings in shares of CONMED by 4.1% during the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock worth $512,000 after acquiring an additional 275 shares during the period. Epiq Partners LLC raised its holdings in shares of CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company's stock worth $952,000 after acquiring an additional 302 shares during the period. Smartleaf Asset Management LLC lifted its position in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after acquiring an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after purchasing an additional 351 shares during the period.

CONMED Stock Down 7.8 %

NYSE CNMD traded down $4.44 during trading hours on Thursday, hitting $52.34. 606,602 shares of the company traded hands, compared to its average volume of 463,795. 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 business's 50-day moving average is $60.70 and its 200-day moving average is $66.62. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.83 and a beta of 1.28. CONMED Co. has a twelve month low of $50.95 and a twelve month high of $80.54.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.31% and a net margin of 10.13%. Sell-side analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio (DPR) is presently 18.87%.

Analysts Set New Price Targets

CNMD has been the topic of several recent research reports. Wells Fargo & Company dropped their price target 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. Needham & Company LLC cut their target price on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.20.

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.