CONMED Co. (NYSE:CNMD) Shares Bought by Capital Research Global Investors

Capital Research Global Investors grew its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,577,172 shares of the company's stock after buying an additional 32,630 shares during the quarter. Capital Research Global Investors owned 5.11% of CONMED worth $107,942,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in CONMED by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company's stock worth $49,879,000 after buying an additional 8,274 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of CONMED by 4.2% in the third 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 last quarter. GAMMA Investing LLC increased its position in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after purchasing an additional 351 shares in the last quarter. Nordea Investment Management AB raised its stake in CONMED by 31.5% in the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock valued at $5,141,000 after purchasing an additional 17,633 shares during the last quarter. Finally, Tealwood Asset Management Inc. acquired a new stake in CONMED during the 4th quarter worth $1,142,000.

CONMED Trading Down 0.6 %

NYSE:CNMD traded down $0.31 on Friday, reaching $50.69. The company's stock had a trading volume of 449,367 shares, compared to its average volume of 451,639. CONMED Co. has a 12-month low of $46.00 and a 12-month high of $78.58. The stock has a 50 day moving average price of $56.99 and a 200 day moving average price of $65.14. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. 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 posted its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio (DPR) is 18.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reduced their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus increased their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut CONMED from an "overweight" rating to a "neutral" rating and cut their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.20.

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.