Champlain Investment Partners LLC Sells 67,092 Shares of CONMED Co. (NYSE:CNMD)

Champlain Investment Partners LLC cut its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,300,558 shares of the company's stock after selling 67,092 shares during the quarter. Champlain Investment Partners LLC owned approximately 4.21% of CONMED worth $89,010,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CNMD. Blue Trust Inc. grew its position in CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock valued at $235,000 after purchasing an additional 145 shares during the period. Summit Investment Advisors Inc. increased its position in shares of CONMED by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock worth $221,000 after acquiring an additional 205 shares in the last quarter. HighTower Advisors LLC lifted its position in CONMED by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company's stock valued at $512,000 after acquiring an additional 275 shares in the last quarter. Epiq Partners LLC boosted its stake in 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 last quarter. Finally, Smartleaf Asset Management LLC increased 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.

Analyst Upgrades and Downgrades

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

CONMED Stock Performance

Shares of NYSE CNMD traded up $0.30 during mid-day trading on Tuesday, hitting $47.96. The company had a trading volume of 116,681 shares, compared to its average volume of 461,746. The stock's 50-day moving average price is $58.07 and its 200-day moving average price is $65.55. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. 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 announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, sell-side analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders 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 dividend yield of 1.67%. CONMED's dividend payout ratio (DPR) is currently 18.87%.

About CONMED

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.