D. E. Shaw & Co. Inc. Sells 11,591 Shares of CONMED Co. (NYSE:CNMD)

D. E. Shaw & Co. Inc. cut its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,037 shares of the company's stock after selling 11,591 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.19% of CONMED worth $4,040,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Dean Capital Management boosted its position in CONMED by 64.4% during the fourth quarter. Dean Capital Management now owns 25,575 shares of the company's stock worth $1,750,000 after purchasing an additional 10,019 shares during the period. Brevan Howard Capital Management LP boosted its holdings in shares of CONMED by 178.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,740 shares of the company's stock worth $872,000 after buying an additional 8,162 shares during the period. Captrust Financial Advisors boosted its holdings in shares of CONMED by 53.0% during the 4th quarter. Captrust Financial Advisors now owns 9,562 shares of the company's stock worth $654,000 after buying an additional 3,311 shares during the period. Beverly Hills Private Wealth LLC grew its stake in CONMED by 4.7% in the 4th 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 during the last quarter. Finally, AXA S.A. grew its stake in CONMED by 15.4% in the 4th quarter. AXA S.A. now owns 48,595 shares of the company's stock valued at $3,326,000 after buying an additional 6,500 shares during the last quarter.

CONMED Stock Performance

CONMED stock traded down $2.46 during trading hours on Wednesday, hitting $57.38. The stock had a trading volume of 289,206 shares, compared to its average volume of 448,483. The company has a 50-day moving average of $55.80 and a two-hundred day moving average of $64.26. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a fifty-two week low of $46.00 and a fifty-two week high of $78.58. The company has a market cap of $1.78 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19.

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

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. CONMED's payout ratio is 21.05%.

Insider Activity

In other news, Director Charles Farkas sold 4,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $56.94, for a total value of $227,760.00. Following the completion of the transaction, the director now directly owns 16,346 shares of the company's stock, valued at approximately $930,741.24. This represents a 19.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and decreased their price target for the company from $75.00 to $55.00 in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC dropped their price target on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. StockNews.com lowered CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.20.

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.