Voloridge Investment Management LLC Has $6.62 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Voloridge Investment Management LLC lowered its position in CONMED Co. (NYSE:CNMD - Free Report) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,734 shares of the company's stock after selling 43,194 shares during the period. Voloridge Investment Management LLC owned 0.31% of CONMED worth $6,620,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $68,489,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of CONMED during the 4th quarter valued at approximately $59,046,000. Neuberger Berman Group LLC bought a new position in shares of CONMED during the 4th quarter valued at approximately $21,395,000. Raymond James Financial Inc. purchased a new stake in shares of CONMED during the 4th quarter valued at approximately $18,248,000. Finally, Fisher Asset Management LLC lifted its stake in CONMED by 41.4% in the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock worth $28,569,000 after purchasing an additional 122,140 shares in the last quarter.

CONMED Trading Down 1.1%

CONMED stock traded down $0.64 during trading hours on Friday, hitting $57.06. The stock had a trading volume of 37,571 shares, compared to its average volume of 445,183. The business's 50 day simple moving average is $55.35 and its 200-day simple moving average is $63.50. CONMED Co. has a one year low of $46.00 and a one year high of $78.58. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.83 and a beta of 1.19. 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 (NYSE:CNMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $313.38 million. During the same period last year, the company earned $0.79 EPS. CONMED's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 yield of 1.40%. The ex-dividend date is Friday, June 13th. CONMED's dividend payout ratio (DPR) is presently 21.05%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNMD. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company decreased their price target 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. Needham & Company LLC reduced their target price on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus downgraded shares of CONMED from a "buy" rating to a "hold" rating and cut their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.20.

Insider Transactions at CONMED

In other CONMED 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 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 $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 available through this link. Corporate insiders own 3.10% of the company's stock.

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.