CONMED Co. (NYSE:CNMD) Stock Holdings Lifted by Raymond James & Associates

Raymond James & Associates increased its position in shares of CONMED Co. (NYSE:CNMD) by 70.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,907 shares of the company’s stock after acquiring an additional 58,663 shares during the quarter. Raymond James & Associates owned 0.46% of CONMED worth $10,206,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of CONMED by 29.1% in the first quarter. Public Employees Retirement System of Ohio now owns 47,595 shares of the company’s stock worth $3,811,000 after buying an additional 10,736 shares during the period. UniSuper Management Pty Ltd acquired a new stake in CONMED during the 1st quarter worth about $673,000. Duality Advisers LP grew its stake in CONMED by 149.5% during the 1st quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock valued at $1,485,000 after acquiring an additional 11,110 shares in the last quarter. Kempner Capital Management Inc. acquired a new position in shares of CONMED in the 2nd quarter valued at about $6,480,000. Finally, Thornburg Investment Management Inc. lifted its position in shares of CONMED by 35.5% in the first quarter. Thornburg Investment Management Inc. now owns 111,667 shares of the company’s stock worth $8,936,000 after purchasing an additional 29,281 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Friday, October 4th. StockNews.com raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus reduced their price objective on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Piper Sandler lowered their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CONMED presently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Stock Performance

Shares of CNMD opened at $63.75 on Tuesday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46. The company’s fifty day moving average is $69.67 and its 200-day moving average is $70.27. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $117.27.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The firm had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. During the same period in the prior year, the business posted $0.83 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that CONMED Co. will post 3.99 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, September 16th. CONMED’s payout ratio is 30.65%.

CONMED 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.