Raymond James Financial Inc. Purchases Shares of 266,625 CONMED Co. (NYSE:CNMD)

Raymond James Financial Inc. acquired a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 266,625 shares of the company's stock, valued at approximately $18,248,000. Raymond James Financial Inc. owned approximately 0.86% of CONMED as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company's stock valued at $50,000 after acquiring an additional 351 shares in the last quarter. Pacer Advisors Inc. boosted its stake in CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company's stock valued at $113,000 after purchasing an additional 485 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company's stock worth $136,000 after purchasing an additional 322 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of CONMED in the 4th quarter worth $210,000. Finally, Blue Trust Inc. raised its stake in shares of CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company's stock worth $235,000 after purchasing an additional 145 shares during the last quarter.

CONMED Stock Performance

Shares of CNMD stock traded down $0.46 during mid-day trading on Friday, reaching $50.54. 84,672 shares of the company's stock traded hands, compared to its average volume of 458,828. CONMED Co. has a 12 month low of $46.00 and a 12 month high of $78.58. The firm has a 50 day moving average price of $57.23 and a two-hundred day moving average price of $65.24. The firm has a market capitalization of $1.56 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30.

CONMED (NYSE:CNMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, March 14th. CONMED's dividend payout ratio is currently 18.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. lowered shares of CONMED from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Stifel Nicolaus increased their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their target price on shares of CONMED from $97.00 to $91.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.20.

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.