Intech Investment Management LLC Has $1.15 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Intech Investment Management LLC boosted its holdings in shares of CONMED Co. (NYSE:CNMD) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,725 shares of the company’s stock after buying an additional 803 shares during the period. Intech Investment Management LLC’s holdings in CONMED were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CNMD. Natixis Advisors LLC raised its holdings in shares of CONMED by 10.5% in the fourth quarter. Natixis Advisors LLC now owns 122,550 shares of the company’s stock valued at $8,387,000 after purchasing an additional 11,641 shares during the last quarter. Aurora Investment Counsel raised its holdings in shares of CONMED by 12.0% in the fourth quarter. Aurora Investment Counsel now owns 17,133 shares of the company’s stock valued at $1,173,000 after purchasing an additional 1,841 shares during the last quarter. Swiss National Bank raised its holdings in shares of CONMED by 0.8% in the fourth quarter. Swiss National Bank now owns 60,600 shares of the company’s stock valued at $4,147,000 after purchasing an additional 500 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of CONMED in the fourth quarter valued at about $5,790,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of CONMED in the fourth quarter valued at about $18,248,000.

CONMED Price Performance

Shares of NYSE:CNMD opened at $59.63 on Friday. 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 firm has a market capitalization of $1.84 billion, a PE ratio of 14.06, a P/E/G ratio of 1.83 and a beta of 1.53. CONMED Co. has a twelve month low of $55.22 and a twelve month high of $81.22. The company has a 50-day moving average price of $64.58 and a two-hundred day moving average price of $68.47.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. CONMED’s dividend payout ratio is presently 18.87%.

Analyst Ratings Changes

Several brokerages have recently commented on CNMD. Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC lowered their target price on shares of 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. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.20.

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.