CONMED Corporation (NYSE:CNMD) Shares Acquired by Cooke & Bieler LP

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

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of CONMED by 2.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 9,701 shares of the company's stock valued at $586,000 after buying an additional 217 shares in the last quarter. Bridge City Capital LLC raised its position in shares of CONMED by 20.8% in the 4th quarter. Bridge City Capital LLC now owns 44,056 shares of the company's stock worth $3,015,000 after purchasing an additional 7,597 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CONMED by 10,855.1% in the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company's stock worth $4,803,000 after purchasing an additional 78,808 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CONMED in the 4th quarter worth about $18,248,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CONMED by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 257,712 shares of the company's stock worth $15,308,000 after purchasing an additional 34,570 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNMD. Needham & Company LLC lowered CONMED from a "buy" rating to a "hold" rating and set a $61.00 target price for the company. in a research report on Thursday, June 12th. JPMorgan Chase & Co. reduced their price target 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. Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, Wells Fargo & Company lowered their price objective on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.20.

Insider Buying and Selling at CONMED

In related news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director owned 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company's stock.

CONMED Trading Down 3.3%

Shares of NYSE:CNMD traded down $1.63 on Friday, hitting $47.62. 476,414 shares of the company's stock were exchanged, compared to its average volume of 447,013. CONMED Corporation has a 12 month low of $46.00 and a 12 month high of $78.19. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. The business's 50 day simple moving average is $54.77 and its two-hundred day simple moving average is $58.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.26 and a quick ratio of 1.00.

CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. The firm had revenue of $321.26 million for the quarter, compared to analyst estimates of $313.38 million. CONMED had a return on equity of 14.36% and a net margin of 9.02%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

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