Tributary Capital Management LLC Boosts Stock Position in CONMED Corporation $CNMD

Key Points

• Tributary Capital Management LLC increased its stake in CONMED by 29.4% in Q4, buying 61,060 shares to hold 268,896 shares (about 0.87% of the company) valued at roughly $10.92 million.
• Analyst sentiment is cautious: seven analysts rate CONMED a Hold and one a Sell, producing a MarketBeat consensus rating of Reduce and a consensus target price of $50.17.
• CONMED beat Q4 expectations with $1.43 EPS vs. $1.32 expected and $373.2M in revenue (up 7.9% YoY); the stock trades near $39.11 with a $1.18B market cap and a 12‑month range of $33.21–$61.08.

Tributary Capital Management LLC boosted its holdings in CONMED Corporation (NYSE:CNMD - Free Report) by 29.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,896 shares of the company's stock after purchasing an additional 61,060 shares during the period. Tributary Capital Management LLC owned about 0.87% of CONMED worth $10,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CNMD. AQR Capital Management LLC boosted its position in CONMED by 19.9% in the first quarter. AQR Capital Management LLC now owns 14,199 shares of the company's stock worth $857,000 after purchasing an additional 2,357 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CONMED by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,354 shares of the company's stock worth $1,108,000 after purchasing an additional 800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of CONMED by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,686 shares of the company's stock valued at $4,993,000 after buying an additional 4,565 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of CONMED by 34.6% during the 1st quarter. Intech Investment Management LLC now owns 22,505 shares of the company's stock valued at $1,359,000 after buying an additional 5,780 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of CONMED during the 2nd quarter valued at $310,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of CONMED in a research report on Thursday, January 29th. Wall Street Zen raised CONMED from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 14th. Zacks Research raised CONMED from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 3rd. Wells Fargo & Company raised CONMED to a "hold" rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CONMED in a research report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $50.17.

CONMED Price Performance

Shares of NYSE CNMD opened at $39.11 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.66 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.81. The stock's 50-day simple moving average is $39.50 and its two-hundred day simple moving average is $41.63. CONMED Corporation has a twelve month low of $33.21 and a twelve month high of $61.08.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.11. The business had revenue of $373.20 million for the quarter, compared to analyst estimates of $366.88 million. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 EPS. As a group, equities analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal year.

About CONMED

CONMED Corporation NYSE: CNMD is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company's product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.

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