Barclays PLC Trims Holdings in CONMED Co. (NYSE:CNMD)

Barclays PLC decreased its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 88.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 262,312 shares of the company's stock after selling 1,947,475 shares during the period. Barclays PLC owned approximately 0.85% of CONMED worth $17,951,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Neuberger Berman Group LLC purchased a new position in shares of CONMED in the fourth quarter worth about $21,395,000. Raymond James Financial Inc. acquired a new position in CONMED in the 4th quarter worth approximately $18,248,000. Fisher Asset Management LLC raised its position in CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock worth $28,569,000 after buying an additional 122,140 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of CONMED in the 4th quarter valued at $5,790,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CONMED by 44.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock valued at $15,029,000 after acquiring an additional 68,696 shares during the last quarter.

Wall Street Analyst Weigh In

CNMD has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded shares of CONMED from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their price target on CONMED from $74.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CONMED has a consensus rating of "Moderate Buy" and a consensus price target of $77.20.

CONMED Price Performance

CNMD traded down $0.68 during trading on Friday, hitting $50.32. The company's stock had a trading volume of 108,521 shares, compared to its average volume of 458,966. 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 firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.83 and a beta of 1.28. The business's fifty day simple moving average is $57.23 and its 200 day simple moving average is $65.24. CONMED Co. has a twelve month low of $46.00 and a twelve month high of $78.58.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate 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 research analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.59%. CONMED's payout ratio is presently 18.87%.

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.