Silvercrest Asset Management Group LLC Takes $68.49 Million Position in CONMED Co. (NYSE:CNMD)

Silvercrest Asset Management Group LLC purchased a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000,719 shares of the company's stock, valued at approximately $68,489,000. Silvercrest Asset Management Group LLC owned about 3.24% of CONMED as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Bridge City Capital LLC grew its position in shares of CONMED by 20.8% in the 4th quarter. Bridge City Capital LLC now owns 44,056 shares of the company's stock valued at $3,015,000 after acquiring an additional 7,597 shares during the period. Raymond James Financial Inc. bought a new stake in CONMED in the fourth quarter valued at approximately $18,248,000. Allspring Global Investments Holdings LLC lifted its position in shares of CONMED by 44.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company's stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of CONMED in the fourth quarter valued at approximately $909,000. Finally, Integrated Quantitative Investments LLC bought a new position in shares of CONMED during the 4th quarter worth approximately $947,000.

CONMED Price Performance

CONMED stock opened at $59.65 on Friday. The firm has a market cap of $1.85 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The stock's fifty day moving average price is $55.79 and its two-hundred day moving average price is $64.43. CONMED Co. has a one year low of $46.00 and a one year high of $78.58.

CONMED (NYSE:CNMD - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The firm had revenue of $321.26 million for the quarter, compared to analyst estimates of $313.38 million. During the same period last year, the firm earned $0.79 EPS. The business's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. CONMED's dividend payout ratio (DPR) is currently 21.05%.

Insider Activity

In other news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the sale, the director now directly owns 16,346 shares of the company's stock, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNMD shares. JPMorgan Chase & Co. cut their price target on CONMED from $70.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Stifel Nicolaus lowered shares of CONMED from a "buy" rating to a "hold" rating and decreased their price target for the company from $75.00 to $55.00 in a research note on Monday, April 28th. StockNews.com cut shares of CONMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Needham & Company LLC decreased their target price on CONMED from $91.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price target on CONMED from $70.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, CONMED has a consensus rating of "Hold" and a consensus target price 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.

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