Cooke & Bieler LP Acquires 38,580 Shares of CONMED Corporation (NYSE:CNMD)

Cooke & Bieler LP boosted its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 702,623 shares of the company's stock after buying an additional 38,580 shares during the period. Cooke & Bieler LP owned approximately 2.27% of CONMED worth $42,431,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised 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 acquiring an additional 44,777 shares during the period. Earnest Partners LLC raised its holdings in shares of CONMED by 0.9% during the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company's stock worth $192,328,000 after acquiring an additional 25,876 shares during the period. Capital Research Global Investors raised its holdings in shares of CONMED by 2.1% during the fourth quarter. Capital Research Global Investors now owns 1,577,172 shares of the company's stock worth $107,942,000 after acquiring an additional 32,630 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of CONMED during the fourth quarter worth $68,489,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of CONMED during the fourth quarter worth $59,046,000.

Insider Activity at CONMED

In related news, Director Charles Farkas sold 4,000 shares of the business's stock in a transaction 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 owned 16,346 shares in the company, valued at $930,741.24. The trade was a 19.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of CONMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Stifel Nicolaus downgraded shares of 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. JPMorgan Chase & Co. decreased their price objective on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company decreased 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. Finally, Needham & Company LLC downgraded shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price objective for the company. in a research report on Thursday, June 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $62.20.

CONMED Price Performance

Shares of CONMED stock traded down $1.63 during midday trading on Friday, hitting $47.62. 476,414 shares of the company traded hands, compared to its average volume of 447,013. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.23 and a beta of 1.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 2.26. The firm's fifty day moving average price is $54.77 and its 200-day moving average price is $58.68. CONMED Corporation has a 12 month low of $46.00 and a 12 month high of $78.19.

CONMED (NYSE:CNMD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. CONMED had a net margin of 9.02% and a return on equity of 14.36%. The firm 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 posted $0.79 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Friday, June 13th. CONMED's dividend payout ratio is currently 21.05%.

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.