Dimensional Fund Advisors LP Purchases 57,149 Shares of CONMED Co. (NYSE:CNMD)

Dimensional Fund Advisors LP lifted its position in shares of CONMED Co. (NYSE:CNMD - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,440 shares of the company's stock after purchasing an additional 57,149 shares during the quarter. Dimensional Fund Advisors LP owned 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. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 351 shares in the last quarter. Pacer Advisors Inc. raised its holdings in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after buying an additional 485 shares during the period. Smartleaf Asset Management LLC lifted its stake in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock valued at $136,000 after buying an additional 322 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of CONMED in the fourth quarter valued at approximately $210,000. Finally, 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CNMD shares. JPMorgan Chase & Co. reduced their target price on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday. Wells Fargo & Company reduced their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday. Stifel Nicolaus downgraded 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 report on Monday, April 28th. Finally, Needham & Company LLC cut their target price on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, CONMED presently has an average rating of "Hold" and a consensus target price of $62.20.

CONMED Price Performance

Shares of CNMD opened at $57.52 on Friday. 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's fifty day simple moving average is $56.10 and its 200 day simple moving average is $64.78. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company 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 firm earned $0.79 EPS. CONMED's quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts forecast that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced 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 dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, March 14th. 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.

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