CONMED Co. (NYSE:CNMD) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in CONMED Co. (NYSE:CNMD - Free Report) by 10,855.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,534 shares of the company's stock after buying an additional 78,808 shares during the quarter. GAMMA Investing LLC owned about 0.26% of CONMED worth $4,803,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC raised its stake in shares of CONMED by 4.7% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company's stock worth $257,000 after buying an additional 168 shares during the last quarter. Summit Investment Advisors Inc. boosted its position 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 acquiring an additional 205 shares during the last quarter. Blue Trust Inc. raised its holdings in CONMED by 10.2% in the 4th quarter. Blue Trust Inc. now owns 3,438 shares of the company's stock valued at $235,000 after acquiring an additional 317 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after purchasing an additional 322 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of CONMED by 0.8% during the fourth quarter. Swiss National Bank now owns 60,600 shares of the company's stock worth $4,147,000 after purchasing an additional 500 shares during the last quarter.

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 in the company, valued at $930,741.24. The trade was a 19.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.10% of the company's stock.

CONMED Stock Down 2.6%

Shares of NYSE:CNMD traded down $1.44 during mid-day trading on Friday, hitting $53.53. 325,631 shares of the company traded hands, compared to its average volume of 443,773. The firm has a market cap of $1.66 billion, a P/E ratio of 12.63, a PEG ratio of 1.83 and a beta of 1.24. CONMED Co. has a 52-week low of $46.00 and a 52-week high of $78.19. The firm's 50 day simple moving average is $55.00 and its 200 day simple moving average is $62.24. 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 (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, June 13th. CONMED's payout ratio is 21.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company reduced their target price on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and dropped their price target for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Needham & Company LLC downgraded shares of CONMED from a "buy" rating to a "hold" rating and set a $61.00 price target on the stock. in a research note on Thursday. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, CONMED currently has a consensus rating of "Hold" and an average target price of $62.20.

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.