CONMED Co. (NYSE:CNMD) Shares Sold by Choreo LLC

Choreo LLC lowered its stake in shares of CONMED Co. (NYSE:CNMD) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,666 shares of the company’s stock after selling 492 shares during the quarter. Choreo LLC’s holdings in CONMED were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CNMD. Epiq Partners LLC grew its position in CONMED by 2.2% in the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after buying an additional 302 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares in the last quarter. Blue Trust Inc. boosted its position in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after purchasing an additional 145 shares in the last quarter. AMI Asset Management Corp boosted its position in shares of CONMED by 41.5% during the 4th quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock worth $1,401,000 after purchasing an additional 6,008 shares in the last quarter. Finally, Avity Investment Management Inc. purchased a new stake in shares of CONMED during the 4th quarter worth $278,000.

CONMED Stock Down 4.2 %

NYSE:CNMD opened at $62.32 on Thursday. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $86.96. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $69.78 and a 200-day moving average of $70.02.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. Analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.28%. CONMED’s dividend payout ratio is presently 18.87%.

Analyst Ratings Changes

Several equities research analysts recently commented on CNMD shares. Stifel Nicolaus boosted their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company decreased their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

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.