Squarepoint Ops LLC Takes $849,000 Position in CONMED Co. (NYSE:CNMD)

Squarepoint Ops LLC purchased a new position in CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,403 shares of the company's stock, valued at approximately $849,000.

Other hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new stake in CONMED during the fourth quarter valued at $82,000. Pacer Advisors Inc. raised its stake in CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock worth $113,000 after purchasing an additional 485 shares during the period. Smartleaf Asset Management LLC raised its stake in CONMED by 19.6% during the fourth 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. CIBC Asset Management Inc purchased a new position in CONMED during the fourth quarter worth about $210,000. Finally, Summit Investment Advisors Inc. raised its stake 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 purchasing an additional 205 shares during the period.

CONMED Stock Down 0.1%

NYSE:CNMD traded down $0.04 on Thursday, hitting $56.53. 277,659 shares of the company's stock traded hands, compared to its average volume of 444,353. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED Co. has a 1 year low of $46.00 and a 1 year high of $78.58. The firm has a 50-day moving average price of $55.00 and a 200-day moving average price of $62.93. The company has a market cap of $1.75 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19.

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

CONMED Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, June 13th. CONMED's payout ratio is presently 21.05%.

Insider Activity at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of the business's 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 sale, the director now owns 16,346 shares in the company, 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 is accessible through this link. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNMD. Wells Fargo & Company dropped their price objective on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. cut 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. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and lowered their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Wall Street Zen lowered shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC lowered their price objective on shares of CONMED from $91.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, CONMED currently has a consensus rating of "Hold" and an average price target of $62.20.

About CONMED

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.