Dimensional Fund Advisors LP Has $53.07 Million Stock Position in CONMED Co. (NYSE:CNMD)

Dimensional Fund Advisors LP boosted its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 775,440 shares of the company's stock after purchasing an additional 57,149 shares during the period. Dimensional Fund Advisors LP owned about 2.51% of CONMED worth $53,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNMD. Blue Trust Inc. raised its holdings in shares of CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock valued at $235,000 after buying an additional 145 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in CONMED by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company's stock valued at $221,000 after acquiring an additional 205 shares in the last quarter. Epiq Partners LLC boosted its position in CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company's stock worth $952,000 after acquiring an additional 302 shares during the period. Smartleaf Asset Management LLC grew its stake 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 worth $136,000 after purchasing an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after purchasing an additional 351 shares during the period.

Analysts Set New Price Targets

CNMD has been the subject of several research analyst reports. 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 report on Monday, April 28th. Needham & Company LLC decreased their price objective on shares of CONMED from $91.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, May 1st. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company decreased their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their price target on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $62.20.

CONMED Price Performance

CONMED stock traded up $1.01 during mid-day trading on Thursday, hitting $57.02. The company's stock had a trading volume of 74,189 shares, compared to its average volume of 451,731. CONMED Co. has a twelve month low of $46.00 and a twelve month high of $78.58. The stock's fifty day moving average price is $55.89 and its two-hundred day moving average price is $64.59. The stock has a market capitalization of $1.76 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.83 and a beta of 1.19. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD - Get Free Report) last announced its 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 return on equity of 14.31% and a net margin of 10.13%. The company 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 firm earned $0.79 earnings per share. CONMED's revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's payout ratio is 21.05%.

Insider Transactions at CONMED

In related news, Director Charles Farkas sold 4,000 shares of the firm'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 value of $227,760.00. Following the completion of the transaction, the director now owns 16,346 shares of the company's stock, valued at approximately $930,741.24. This trade represents a 19.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

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.