4,065 Shares in CONMED Co. (NYSE:CNMD) Purchased by Avity Investment Management Inc.

Avity Investment Management Inc. bought a new position in CONMED Co. (NYSE:CNMD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,065 shares of the company’s stock, valued at approximately $278,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tealwood Asset Management Inc. acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $1,142,000. Nordea Investment Management AB increased its stake in shares of CONMED by 31.5% in the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock worth $5,141,000 after acquiring an additional 17,633 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CONMED by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 620,715 shares of the company’s stock worth $44,631,000 after acquiring an additional 25,047 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of CONMED by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock valued at $49,879,000 after acquiring an additional 8,274 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CNMD shares. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Stock Down 2.7 %

Shares of CNMD opened at $67.59 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm has a market cap of $2.09 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.47. The company’s 50-day moving average price is $71.85 and its 200 day moving average price is $70.05. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $111.10.

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

CONMED Announces Dividend

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

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.