Dean Capital Management Increases Stake in CONMED Co. (NYSE:CNMD)

Dean Capital Management grew its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 64.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,575 shares of the company's stock after acquiring an additional 10,019 shares during the period. Dean Capital Management owned about 0.08% of CONMED worth $1,750,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CNMD. GAMMA Investing LLC boosted its holdings in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after buying an additional 351 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of CONMED in the fourth quarter valued at about $82,000. Pacer Advisors Inc. grew its position 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 purchasing an additional 485 shares during the period. Smartleaf Asset Management LLC grew its position in shares of CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after purchasing an additional 322 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of CONMED in the fourth quarter valued at about $210,000.

Insider Activity

In related news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the sale, the director now directly owns 16,346 shares of the company's stock, valued at $930,741.24. This represents a 19.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNMD. JPMorgan Chase & Co. dropped their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. StockNews.com lowered shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and dropped their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, 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 report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, CONMED presently has an average rating of "Hold" and an average price target of $62.20.

CONMED Trading Up 5.2%

NYSE:CNMD traded up $2.94 on Monday, hitting $60.02. The stock had a trading volume of 252,157 shares, compared to its average volume of 452,498. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.83 and a beta of 1.19. The company has a fifty day moving average price of $55.86 and a two-hundred day moving average price of $64.54. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58.

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

CONMED Dividend Announcement

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

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.