Knights of Columbus Asset Advisors LLC increased its holdings in shares of CONMED Co. (NYSE:CNMD - Free Report) by 144.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,850 shares of the company's stock after purchasing an additional 27,060 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.15% of CONMED worth $5,021,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CNMD. Arizona State Retirement System raised its position in CONMED by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 8,705 shares of the company's stock valued at $878,000 after buying an additional 121 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in shares of CONMED by 5.5% during the 1st quarter. Snowden Capital Advisors LLC now owns 2,534 shares of the company's stock worth $263,000 after acquiring an additional 133 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of CONMED by 4.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company's stock worth $312,000 after acquiring an additional 140 shares during the period. HighTower Advisors LLC boosted its stake in shares of CONMED by 3.7% during the 1st quarter. HighTower Advisors LLC now owns 6,716 shares of the company's stock worth $694,000 after acquiring an additional 237 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in shares of CONMED by 30.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company's stock worth $106,000 after acquiring an additional 248 shares during the period.
CONMED Price Performance
Shares of NYSE:CNMD traded up $1.56 during trading on Friday, reaching $72.64. 506,301 shares of the company traded hands, compared to its average volume of 431,319. The company's 50 day moving average is $79.63 and its two-hundred day moving average is $94.43. The firm has a market capitalization of $2.24 billion, a PE ratio of 35.61, a PEG ratio of 0.64 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. CONMED Co. has a 52 week low of $70.57 and a 52 week high of $138.47.
CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.05). CONMED had a net margin of 5.18% and a return on equity of 13.69%. The company had revenue of $327.05 million for the quarter, compared to the consensus estimate of $332.94 million. As a group, sell-side analysts predict that CONMED Co. will post 4.34 earnings per share for the current year.
CONMED Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. CONMED's payout ratio is presently 39.22%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on CNMD shares. Needham & Company LLC lifted their target price on CONMED from $119.00 to $129.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. reduced their price target on CONMED from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, February 1st. Finally, Piper Sandler reduced their price target on CONMED from $130.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, CONMED currently has an average rating of "Moderate Buy" and a consensus target price of $120.43.
Read Our Latest Stock Report on CNMD
CONMED Profile
(
Free Report)
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.
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