Connable Office Inc. Has $395,000 Stock Position in CONMED Co. (NYSE:CNMD)

Connable Office Inc. grew its position in CONMED Co. (NYSE:CNMD) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,766 shares of the company’s stock after purchasing an additional 888 shares during the period. Connable Office Inc.’s holdings in CONMED were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Fisher Asset Management LLC lifted its holdings in shares of CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after buying an additional 122,140 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of CONMED by 188.9% during the 3rd quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock valued at $10,568,000 after buying an additional 96,081 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of CONMED by 6.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock valued at $98,361,000 after buying an additional 81,970 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of CONMED by 44.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of CONMED by 36.6% during the 3rd quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock valued at $7,977,000 after buying an additional 29,720 shares during the last quarter.

Wall Street Analyst Weigh In

CNMD has been the subject of several research reports. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company cut their price objective 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 price objective on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus raised their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Performance

CNMD opened at $59.09 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. The stock’s 50 day moving average price is $67.38 and its two-hundred day moving average price is $69.54. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a 12-month low of $58.73 and a 12-month high of $86.96.

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

CONMED Announces Dividend

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