Westwood Holdings Group Inc. cut its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 877,399 shares of the company's stock after selling 4,708 shares during the period. Westwood Holdings Group Inc. owned about 2.84% of CONMED worth $60,049,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CNMD. Silvercrest Asset Management Group LLC bought a new position in CONMED during the fourth quarter valued at $68,489,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of CONMED in the fourth quarter worth $59,046,000. Neuberger Berman Group LLC purchased a new stake in shares of CONMED in the fourth quarter worth $21,395,000. Raymond James Financial Inc. purchased a new stake in shares of CONMED in the fourth quarter worth $18,248,000. Finally, Fisher Asset Management LLC raised its position in CONMED by 41.4% during the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock valued at $28,569,000 after purchasing an additional 122,140 shares in the last quarter.
CONMED Trading Down 1.2%
Shares of NYSE CNMD traded down $0.68 during trading hours on Friday, hitting $55.38. The company's stock had a trading volume of 332,606 shares, compared to its average volume of 447,650. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.83 and a beta of 1.19. CONMED Co. has a 12 month low of $46.00 and a 12 month high of $78.58. The business has a 50-day simple moving average of $55.56 and a 200-day simple moving average of $63.99.
CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.14. The company had revenue of $321.26 million for 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% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. On average, analysts anticipate 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 will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. CONMED's payout ratio is presently 21.05%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CNMD shares. 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. Stifel Nicolaus cut CONMED from a "buy" rating to a "hold" rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Wall Street Zen cut CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reduced 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, Needham & Company LLC reduced their price objective on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.20.
Read Our Latest Analysis on CNMD
Insider Buying and Selling
In other CONMED news, Director Charles Farkas sold 4,000 shares of CONMED 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 directly owns 16,346 shares of the company's stock, valued at approximately $930,741.24. The trade was a 19.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by insiders.
About CONMED
(
Free Report)
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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