CONMED Co. (NYSE:CNMD) Stake Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CONMED Co. (NYSE:CNMD) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,062 shares of the company’s stock after buying an additional 1,095 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of CONMED worth $4,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Millrace Asset Group Inc. acquired a new position in CONMED during the third quarter valued at $1,665,000. Fisher Asset Management LLC increased its holdings in shares of CONMED by 5.5% in the 3rd quarter. Fisher Asset Management LLC now owns 295,290 shares of the company’s stock valued at $21,237,000 after purchasing an additional 15,512 shares during the period. Champlain Investment Partners LLC lifted its position in shares of CONMED by 6.4% in the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after purchasing an additional 81,970 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of CONMED by 17.0% during the third quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company’s stock worth $9,366,000 after purchasing an additional 18,545 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CONMED by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock worth $27,431,000 after purchasing an additional 16,340 shares during the period.

Analyst Ratings Changes

CNMD has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CONMED currently has an average rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Stock Performance

Shares of CNMD opened at $73.32 on Thursday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.93 and a beta of 1.46. The company’s fifty day moving average is $69.66 and its 200-day moving average is $70.50. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. 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, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The firm had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. Equities analysts expect that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.09%. CONMED’s dividend payout ratio (DPR) is currently 19.00%.

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.