Hsbc Holdings PLC Trims Position in CONMED Co. (NYSE:CNMD)

Hsbc Holdings PLC cut its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 54.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,590 shares of the company's stock after selling 5,473 shares during the period. Hsbc Holdings PLC's holdings in CONMED were worth $316,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock worth $50,000 after buying an additional 351 shares during the period. Pacer Advisors Inc. boosted its holdings 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 buying an additional 485 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 valued at $136,000 after buying an additional 322 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in CONMED in the 4th quarter valued at approximately $210,000. Finally, Summit Investment Advisors Inc. grew 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 buying an additional 205 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Charles Farkas sold 4,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $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 hyperlink. Insiders own 3.10% of the company's stock.

CONMED Stock Down 1.1%

Shares of CONMED stock traded down $0.65 on Tuesday, reaching $60.08. 256,105 shares of the company were exchanged, compared to its average volume of 452,846. The stock's 50 day moving average price is $55.92 and its 200-day moving average price is $64.53. The company has a market cap of $1.86 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58.

CONMED (NYSE:CNMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company had revenue of $321.26 million for the quarter, compared to the consensus estimate of $313.38 million. During the same period last year, the business posted $0.79 EPS. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CNMD shares. Needham & Company LLC dropped their target price on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company dropped 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. lowered their price objective on shares of CONMED from $70.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. StockNews.com cut CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered CONMED from a "buy" rating to a "hold" rating and lowered their price target for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, CONMED presently has an average rating of "Hold" and a consensus price target 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.