Trexquant Investment LP Buys Shares of 38,644 CONMED Co. (NYSE:CNMD)

Trexquant Investment LP bought a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,644 shares of the company's stock, valued at approximately $2,645,000. Trexquant Investment LP owned approximately 0.13% of CONMED at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 worth $50,000 after buying an additional 351 shares during the period. Pacer Advisors Inc. increased its stake in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after purchasing an additional 485 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after purchasing an additional 322 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of CONMED in the 4th quarter valued at about $210,000. Finally, Blue Trust Inc. increased its position in CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock valued at $235,000 after buying an additional 145 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNMD. Needham & Company LLC reduced their price objective on CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus upped 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. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.20.

CONMED Stock Down 1.1 %

CONMED stock traded down $0.59 during trading on Friday, hitting $51.70. 791,867 shares of the company were exchanged, compared to its average volume of 464,895. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The business's 50 day moving average is $60.28 and its 200 day moving average is $66.47. CONMED Co. has a 52 week low of $50.36 and a 52 week high of $78.58. The company has a market capitalization of $1.60 billion, a P/E ratio of 12.19, a PEG ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. CONMED's dividend payout ratio is currently 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.