Mountain Pacific Investment Advisers LLC Decreases Stock Holdings in CONMED Co. (NYSE:CNMD)

Mountain Pacific Investment Advisers LLC lowered its stake in CONMED Co. (NYSE:CNMD) by 1.8% during the 4th quarter, HoldingsChannel reports. The firm owned 137,814 shares of the company’s stock after selling 2,507 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in CONMED were worth $9,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 351 shares during the last quarter. CWM LLC increased its holdings in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares during the last quarter. nVerses Capital LLC raised its position in CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the period. Federated Hermes Inc. purchased a new position in shares of CONMED during the 2nd quarter worth $167,000. Finally, ZWJ Investment Counsel Inc. bought a new stake in shares of CONMED during the 3rd quarter valued at $206,000.

CONMED Trading Up 1.3 %

Shares of CONMED stock opened at $67.75 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company has a fifty day moving average of $71.15 and a 200 day moving average of $70.05. The company has a market capitalization of $2.09 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.74 and a beta of 1.47. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $110.40.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The firm had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. On average, sell-side analysts anticipate that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, December 20th. CONMED’s payout ratio is currently 19.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on CNMD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

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.