ArrowMark Colorado Holdings LLC Decreases Position in CONMED Co. (NYSE:CNMD)

ArrowMark Colorado Holdings LLC reduced its position in shares of CONMED Co. (NYSE:CNMD - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 494,897 shares of the company's stock after selling 6,906 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 1.60% of CONMED worth $33,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after acquiring an additional 351 shares during the period. Aquatic Capital Management LLC acquired a new stake in CONMED during the 4th quarter worth approximately $82,000. Pacer Advisors Inc. boosted its holdings in shares of 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 buying an additional 485 shares during the period. Smartleaf Asset Management LLC increased its position in shares of CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after acquiring an additional 322 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of CONMED during the fourth quarter worth $210,000.

CONMED Stock Up 3.4 %

CNMD stock traded up $1.92 during trading on Thursday, reaching $57.93. The stock had a trading volume of 152,272 shares, compared to its average volume of 515,789. The company's 50 day moving average is $55.89 and its two-hundred day moving average is $64.59. CONMED Co. has a one year low of $46.00 and a one year high of $78.58. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.83 and a beta of 1.19. 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 (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. The firm had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. Equities research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio (DPR) is currently 21.05%.

Insider Activity

In other CONMED news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director now directly owns 16,346 shares in the company, valued at $930,741.24. This represents a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

CNMD has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reduced their price objective on shares of CONMED from $91.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. StockNews.com downgraded shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company lowered their target price on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and dropped their price target for the company 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.20.

CONMED Profile

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.