CONMED Co. (NYSE:CNMD) Shares Bought by Connable Office Inc.

Connable Office Inc. grew its holdings in shares of CONMED Co. (NYSE:CNMD) by 18.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,766 shares of the company’s stock after acquiring an additional 888 shares during the quarter. Connable Office Inc.’s holdings in CONMED were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC boosted its position in CONMED by 6.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after acquiring an additional 81,970 shares during the period. Geode Capital Management LLC boosted its position in CONMED by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock worth $49,879,000 after acquiring an additional 8,274 shares during the period. Principal Financial Group Inc. boosted its position in CONMED by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock worth $42,780,000 after acquiring an additional 4,343 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in CONMED by 0.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company’s stock worth $36,090,000 after acquiring an additional 4,032 shares during the period. Finally, Fisher Asset Management LLC boosted 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 worth $28,569,000 after acquiring an additional 122,140 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNMD. Needham & Company LLC cut their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Wells Fargo & Company cut their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus upped their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Trading Down 0.6 %

Shares of NYSE CNMD opened at $59.09 on Friday. CONMED Co. has a 12 month low of $58.73 and a 12 month high of $86.96. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.46. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $67.38 and a 200-day simple moving average of $69.54.

CONMED (NYSE:CNMD) last announced its 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 return on equity of 14.31% and a net margin of 10.13%. Sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, March 14th. CONMED’s payout ratio is 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.