Mountain Pacific Investment Advisers Inc. ID Raises Position in CONMED Co. (NYSE:CNMD)

Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of CONMED Co. (NYSE:CNMD - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 192,426 shares of the company's stock after purchasing an additional 48,050 shares during the quarter. CONMED accounts for 1.3% of Mountain Pacific Investment Advisers Inc. ID's holdings, making the stock its 28th biggest holding. Mountain Pacific Investment Advisers Inc. ID owned approximately 0.63% of CONMED worth $21,073,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Versor Investments LP bought a new position in shares of CONMED during the 3rd quarter valued at approximately $475,000. Walleye Capital LLC bought a new position in CONMED in the 3rd quarter valued at $5,691,000. Trexquant Investment LP bought a new position in CONMED in the 3rd quarter valued at $2,534,000. California Public Employees Retirement System grew its position in CONMED by 14.9% in the 3rd quarter. California Public Employees Retirement System now owns 49,065 shares of the company's stock valued at $4,948,000 after acquiring an additional 6,356 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in CONMED by 6.0% in the 4th quarter. Fifth Third Bancorp now owns 17,379 shares of the company's stock valued at $1,903,000 after acquiring an additional 987 shares during the last quarter.

CONMED Stock Up 6.3 %

Shares of NYSE CNMD traded up $3.88 during mid-day trading on Friday, reaching $65.78. 1,135,843 shares of the company were exchanged, compared to its average volume of 573,520. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 0.57 and a beta of 1.33. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $138.47. The firm has a 50-day moving average of $78.06 and a 200 day moving average of $93.39.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. The firm had revenue of $312.27 million during the quarter, compared to analysts' expectations of $307.06 million. CONMED had a return on equity of 13.99% and a net margin of 6.53%. On average, research analysts expect that CONMED Co. will post 4.31 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, March 14th. CONMED's dividend payout ratio (DPR) is presently 30.65%.

Wall Street Analyst Weigh In

Several brokerages have commented on CNMD. Piper Sandler cut their price objective on CONMED from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday. Needham & Company LLC cut their price objective on CONMED from $129.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on CONMED from $98.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on CONMED from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.86.

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.