CONMED Co. (NYSE:CNMD) Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its position in CONMED Co. (NYSE:CNMD - Free Report) by 33.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,255 shares of the company's stock after purchasing an additional 5,309 shares during the quarter. First Trust Advisors LP owned about 0.07% of CONMED worth $1,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CNMD. Principal Financial Group Inc. grew its holdings in CONMED by 4.2% during the 3rd 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 in the last quarter. GAMMA Investing LLC grew its holdings in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after acquiring an additional 351 shares in the last quarter. Nordea Investment Management AB grew its holdings in CONMED by 31.5% during the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company's stock worth $5,141,000 after acquiring an additional 17,633 shares in the last quarter. Tealwood Asset Management Inc. acquired a new position in CONMED during the 4th quarter worth approximately $1,142,000. Finally, Avity Investment Management Inc. acquired a new position in CONMED during the 4th quarter worth approximately $278,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Needham & Company LLC reduced their price objective 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. StockNews.com downgraded shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced 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. Finally, Wells Fargo & Company reduced 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.20.

Insider Activity at CONMED

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

CONMED Price Performance

Shares of NYSE:CNMD traded up $3.02 on Monday, reaching $60.10. 79,374 shares of the company were exchanged, compared to its average volume of 451,851. 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. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The company has a 50-day moving average of $55.86 and a 200-day moving average of $64.54.

CONMED (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share 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 analysts' expectations of $313.38 million. During the same period in the prior year, the company posted $0.79 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts forecast that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

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

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.