UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 11,059 Shares of CONMED Co. (NYSE:CNMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CONMED Co. (NYSE:CNMD - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,121 shares of the company's stock after acquiring an additional 11,059 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of CONMED worth $5,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CONMED by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company's stock worth $244,633,000 after purchasing an additional 44,777 shares during the last quarter. Earnest Partners LLC boosted its position in CONMED by 0.9% during the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after buying an additional 25,876 shares during the period. Capital Research Global Investors boosted its position in CONMED by 2.1% during the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after buying an additional 32,630 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in CONMED during the 4th quarter worth approximately $68,489,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in CONMED in the 4th quarter valued at approximately $59,046,000.

CONMED Price Performance

Shares of CNMD traded up $0.32 during mid-day trading on Friday, reaching $56.94. 319,469 shares of the stock traded hands, compared to its average volume of 444,297. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. 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 fifty day moving average price of $54.95 and a 200 day moving average price of $62.83. CONMED Co. has a 1 year low of $46.00 and a 1 year high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.14. The company had revenue of $321.26 million during the quarter, compared to analysts' expectations of $313.38 million. CONMED had a return on equity of 14.31% and a net margin of 10.13%. CONMED's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. As a group, equities research analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. CONMED's dividend payout ratio is presently 21.05%.

Insider Buying and Selling at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the transaction, the director now owns 16,346 shares of the company's stock, valued at $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. 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 report on Thursday, May 1st. Wells Fargo & Company cut their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and cut their price target for the company from $75.00 to $55.00 in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, CONMED currently has a consensus rating of "Hold" and a consensus target price of $62.20.

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.