Nisa Investment Advisors LLC cut its holdings in shares of CONMED Co. (NYSE:CNMD – Free Report) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,880 shares of the company’s stock after selling 1,529 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CONMED were worth $541,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CNMD. GAMMA Investing LLC boosted its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares during the period. CWM LLC grew its stake in CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares during the last quarter. nVerses Capital LLC raised its holdings in CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after acquiring an additional 1,700 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in CONMED during the third quarter worth approximately $206,000. Finally, Blue Trust Inc. boosted its holdings in shares of CONMED by 26.5% during the third quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock worth $216,000 after acquiring an additional 653 shares during the period.
CONMED Price Performance
CONMED stock opened at $70.93 on Wednesday. The firm has a market cap of $2.19 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The stock’s fifty day moving average price is $70.85 and its two-hundred day moving average price is $70.19. CONMED Co. has a one year low of $61.05 and a one year high of $97.08.
CONMED Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Friday, December 20th. CONMED’s payout ratio is presently 19.00%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CNMD. Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, CONMED presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.
Check Out Our Latest Stock Analysis on CONMED
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.
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