Brevan Howard Capital Management LP Increases Stock Position in CONMED Co. (NYSE:CNMD)

Brevan Howard Capital Management LP raised its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 178.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,740 shares of the company's stock after acquiring an additional 8,162 shares during the period. Brevan Howard Capital Management LP's holdings in CONMED were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CNMD. GAMMA Investing LLC raised its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after buying an additional 351 shares during the period. Aquatic Capital Management LLC acquired a new stake in CONMED in the 4th quarter valued at approximately $82,000. Pacer Advisors Inc. increased its holdings in CONMED by 41.4% in the 4th 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 last quarter. Smartleaf Asset Management LLC increased its holdings in CONMED by 19.6% in the 4th 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 last quarter. Finally, CIBC Asset Management Inc acquired a new stake in CONMED in the 4th quarter valued at approximately $210,000.

Insider Buying and Selling

In related news, Director Charles Farkas sold 4,000 shares of the business'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 sale, the director now owns 16,346 shares of the company's stock, valued at approximately $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on CNMD. Needham & Company LLC decreased their price target 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. Wells Fargo & Company decreased their price objective 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. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $62.20.

CONMED Stock Down 1.1%

NYSE:CNMD traded down $0.65 during midday trading on Tuesday, hitting $60.08. 256,105 shares of the company were exchanged, compared to its average volume of 513,251. 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 company has a market capitalization of $1.86 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. CONMED Co. has a fifty-two week low of $46.00 and a fifty-two week high of $78.58. The company has a fifty day simple moving average of $55.92 and a 200 day simple moving average of $64.53.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) 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 business had revenue of $321.26 million for the quarter, compared to analyst estimates of $313.38 million. During the same period in the previous year, the business posted $0.79 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors 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 yield of 1.33%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio is currently 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.