Axa S.A. Acquires 6,500 Shares of CONMED Co. (NYSE:CNMD)

AXA S.A. boosted its position in CONMED Co. (NYSE:CNMD - Free Report) by 15.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,595 shares of the company's stock after buying an additional 6,500 shares during the quarter. AXA S.A. owned approximately 0.16% of CONMED worth $3,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CNMD. Blue Trust Inc. lifted its position in shares of CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after acquiring an additional 145 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of CONMED by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock valued at $221,000 after purchasing an additional 205 shares during the period. Epiq Partners LLC raised its stake in shares of CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company's stock valued at $952,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC lifted its holdings in 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. Finally, GAMMA Investing LLC boosted its stake in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after purchasing an additional 351 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNMD. Needham & Company LLC decreased their price target on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and cut their price target for the company from $75.00 to $55.00 in a report on Monday, April 28th. Finally, Wells Fargo & Company reduced their price target on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. 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 presently has an average rating of "Hold" and a consensus price target of $62.20.

Insider Activity at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction dated Monday, May 5th. The stock was 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 owns 16,346 shares of the company's stock, valued at $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

CONMED Price Performance

Shares of CNMD traded down $0.40 during trading hours on Tuesday, reaching $60.33. 43,382 shares of the company's stock traded hands, compared to its average volume of 452,198. CONMED Co. has a 12 month low of $46.00 and a 12 month 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. The stock has a market cap of $1.87 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The firm's 50 day simple moving average is $55.92 and its 200-day simple moving average is $64.53.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating 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 business had revenue of $321.26 million for the quarter, compared to the consensus estimate of $313.38 million. During the same period last year, the firm posted $0.79 earnings per share. CONMED's quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts expect that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio is currently 21.05%.

CONMED Company 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.