CONMED Co. (NYSE:CNMD) Holdings Decreased by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in CONMED Co. (NYSE:CNMD - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,408 shares of the company's stock after selling 16,079 shares during the period. Peregrine Capital Management LLC owned about 0.31% of CONMED worth $10,558,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Moody Aldrich Partners LLC purchased a new stake in CONMED in the 4th quarter worth approximately $4,282,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CONMED by 2.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,007 shares of the company's stock valued at $1,534,000 after buying an additional 382 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of CONMED by 6.0% during the 4th quarter. Fifth Third Bancorp now owns 17,379 shares of the company's stock valued at $1,903,000 after buying an additional 987 shares in the last quarter. Oak Ridge Investments LLC lifted its position in shares of CONMED by 47.3% during the 4th quarter. Oak Ridge Investments LLC now owns 32,745 shares of the company's stock valued at $3,586,000 after buying an additional 10,514 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in CONMED in the 4th quarter valued at $409,000.

CONMED Trading Up 2.5 %

CONMED stock traded up $1.95 during midday trading on Tuesday, reaching $80.40. 236,718 shares of the stock traded hands, compared to its average volume of 552,481. The company has a 50-day simple moving average of $81.26 and a two-hundred day simple moving average of $95.81. CONMED Co. has a 12-month low of $74.67 and a 12-month high of $138.47. The firm has a market cap of $2.47 billion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 0.71 and a beta of 1.33. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, January 31st. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.05). The firm had revenue of $327.05 million for the quarter, compared to analysts' expectations of $332.94 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. Research analysts expect that CONMED Co. will post 4.34 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED's payout ratio is presently 39.22%.

Analysts Set New Price Targets

CNMD has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on CONMED from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company cut their target price on CONMED from $107.00 to $98.00 and set an "equal weight" rating for the company in a research note on Thursday, February 1st. Needham & Company LLC raised their price objective on CONMED from $119.00 to $129.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Finally, Piper Sandler cut their price objective on CONMED from $130.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.43.

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.