PDT Partners LLC Sells 13,579 Shares of CONMED Co. (NYSE:CNMD)

PDT Partners LLC trimmed its holdings in CONMED Co. (NYSE:CNMD - Free Report) by 28.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,698 shares of the company's stock after selling 13,579 shares during the quarter. PDT Partners LLC owned 0.11% of CONMED worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of CONMED during the fourth quarter valued at about $82,000. Pacer Advisors Inc. lifted its stake in shares of CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after buying an additional 485 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of CONMED by 19.6% in the fourth 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 period. Finally, CIBC Asset Management Inc acquired a new stake in CONMED during the fourth quarter worth about $210,000.

CONMED Price Performance

Shares of CNMD traded down $1.04 on Monday, hitting $56.64. The company's stock had a trading volume of 122,464 shares, compared to its average volume of 451,086. The company has a market capitalization of $1.75 billion, a PE ratio of 13.38, a PEG ratio of 1.83 and a beta of 1.19. CONMED Co. has a fifty-two week low of $46.00 and a fifty-two week high of $78.58. The company has a 50 day moving average price of $56.10 and a 200 day moving average price of $64.78. 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 (NYSE:CNMD - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $313.38 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, March 14th. CONMED's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus cut shares of CONMED from a "buy" rating to a "hold" rating and dropped their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Needham & Company LLC lowered their target price on shares of CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday. 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.com, CONMED presently has an average rating of "Hold" and an average 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.