UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $5.35 Million Stake in CONMED Co. (NYSE:CNMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,121 shares of the company's stock after purchasing 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 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after acquiring an additional 145 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock valued at $257,000 after buying an additional 168 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in 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 buying an additional 205 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after buying an additional 322 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after buying an additional 485 shares in the last quarter.

Insider Activity

In other news, Director Charles Farkas sold 4,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the sale, the director now owns 16,346 shares in the company, valued at $930,741.24. This represents a 19.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CNMD shares. JPMorgan Chase & Co. reduced their price objective on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lowered 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. Needham & Company LLC reduced their target price on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered CONMED from a "buy" rating to a "hold" rating and decreased their price objective for the company from $75.00 to $55.00 in a research report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.20.

CONMED Trading Up 0.2%

NYSE:CNMD traded up $0.13 during mid-day trading on Thursday, hitting $56.70. The company had a trading volume of 145,679 shares, compared to its average volume of 442,808. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a fifty-two week low of $46.00 and a fifty-two week high of $78.58. The firm has a market cap of $1.75 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.83 and a beta of 1.19. The business's fifty day moving average is $55.09 and its two-hundred day moving average is $63.03.

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

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, June 13th. CONMED's payout ratio is currently 21.05%.

CONMED Company 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.