ArrowMark Colorado Holdings LLC Sells 6,906 Shares of CONMED Co. (NYSE:CNMD)

ArrowMark Colorado Holdings LLC decreased its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 494,897 shares of the company's stock after selling 6,906 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 1.60% of CONMED worth $33,871,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CNMD. AXA S.A. lifted its position in shares of CONMED by 15.4% in the 4th quarter. AXA S.A. now owns 48,595 shares of the company's stock worth $3,326,000 after buying an additional 6,500 shares during the last quarter. Northern Trust Corp lifted its holdings in CONMED by 15.2% in the fourth quarter. Northern Trust Corp now owns 356,765 shares of the company's stock worth $24,417,000 after acquiring an additional 47,078 shares during the last quarter. Earnest Partners LLC boosted its stake in CONMED by 0.9% in the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock valued at $192,328,000 after acquiring an additional 25,876 shares during the period. Aquatic Capital Management LLC bought a new position in shares of CONMED during the fourth quarter valued at approximately $82,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of CONMED in the 4th quarter worth approximately $59,046,000.

CONMED Price Performance

CNMD stock traded up $0.12 during trading hours on Wednesday, hitting $56.03. 379,794 shares of the stock traded hands, compared to its average volume of 452,347. The stock has a 50-day simple moving average of $55.95 and a 200 day simple moving average of $64.65. The company has a market cap of $1.73 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.83 and a beta of 1.19. CONMED Co. has a one year low of $46.00 and a one year high of $78.58. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The firm had revenue of $321.26 million during the quarter, compared to analysts' expectations of $313.38 million. During the same period last year, the firm posted $0.79 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. CONMED's dividend payout ratio is currently 21.05%.

Insiders Place Their Bets

In other news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $56.94, for a total value of $227,760.00. Following the transaction, the director now owns 16,346 shares in the company, valued at $930,741.24. This represents a 19.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

CNMD has been the topic of several analyst reports. StockNews.com lowered CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company cut their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC lowered their target price on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered CONMED from a "buy" rating to a "hold" rating and reduced their price target for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $62.20.

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.