CONMED Co. (NYSE:CNMD) Holdings Cut by Voloridge Investment Management LLC

Voloridge Investment Management LLC decreased its position in CONMED Co. (NYSE:CNMD - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 96,734 shares of the company's stock after selling 43,194 shares during the period. Voloridge Investment Management LLC owned about 0.31% of CONMED worth $6,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CNMD. Silvercrest Asset Management Group LLC acquired a new stake in CONMED in the 4th quarter valued at about $68,489,000. Fuller & Thaler Asset Management Inc. acquired a new position in CONMED during the fourth quarter worth about $59,046,000. Neuberger Berman Group LLC purchased a new stake in shares of CONMED in the fourth quarter valued at about $21,395,000. Raymond James Financial Inc. acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $18,248,000. Finally, Fisher Asset Management LLC grew its position in shares of CONMED by 41.4% in the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company's stock valued at $28,569,000 after purchasing an additional 122,140 shares during the last quarter.

Insider Activity at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction on Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the transaction, the director now owns 16,346 shares in the company, valued at $930,741.24. This trade represents a 19.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CNMD. Wall Street Zen lowered CONMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC cut their price target on CONMED from $91.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on CONMED from $70.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and decreased their price target for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $62.20.

CONMED Trading Up 0.9%

Shares of CNMD stock traded up $0.54 during mid-day trading on Thursday, hitting $57.61. 160,083 shares of the company's stock were exchanged, compared to its average volume of 446,816. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 13.57, a PEG 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 Co. has a fifty-two week low of $46.00 and a fifty-two week high of $78.58. The stock has a 50-day simple moving average of $55.42 and a two-hundred day simple moving average of $63.62.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. The firm had revenue of $321.26 million for 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 firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. Equities analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.39%. CONMED's payout ratio is 21.05%.

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.