CONMED Co. (NYSE:CNMD) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its position in CONMED Co. (NYSE:CNMD) by 13.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,675 shares of the company’s stock after purchasing an additional 3,712 shares during the quarter. Stifel Financial Corp owned about 0.10% of CONMED worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Earnest Partners LLC grew its position in shares of CONMED by 18.9% in the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after purchasing an additional 447,498 shares during the period. Deerfield Management Company L.P. Series C grew its holdings in CONMED by 86.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock valued at $43,759,000 after buying an additional 293,099 shares during the period. Cooke & Bieler LP increased its stake in shares of CONMED by 49.8% during the 2nd quarter. Cooke & Bieler LP now owns 628,621 shares of the company’s stock valued at $43,576,000 after acquiring an additional 209,064 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of CONMED by 188.9% during the 3rd quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock worth $10,568,000 after acquiring an additional 96,081 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CONMED by 17,519.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 88,099 shares of the company’s stock worth $6,107,000 after acquiring an additional 87,599 shares during the last quarter.

CONMED Price Performance

CNMD opened at $70.00 on Friday. The company has a 50 day moving average of $70.48 and a two-hundred day moving average of $70.38. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $114.80. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.16 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.94 and a beta of 1.46.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $318.46 million. On average, analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, December 20th. CONMED’s dividend payout ratio (DPR) is presently 19.00%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.