CONMED Co. (NYSE:CNMD) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of CONMED Co. (NYSE:CNMD) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,438 shares of the company’s stock after acquiring an additional 317 shares during the quarter. Blue Trust Inc.’s holdings in CONMED were worth $235,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares during the period. CWM LLC lifted its position 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 purchasing an additional 332 shares during the last quarter. Pacer Advisors Inc. lifted its position in CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after purchasing an additional 485 shares during the last quarter. PEAK6 Investments LLC bought a new stake in CONMED in the 3rd quarter valued at about $275,000. Finally, Avity Investment Management Inc. bought a new stake in shares of CONMED during the 4th quarter worth about $278,000.

Analyst Upgrades and Downgrades

CNMD has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target 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. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their target price on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Stock Performance

CONMED stock opened at $63.09 on Thursday. The firm’s 50 day simple moving average is $68.75 and its 200-day simple moving average is $69.83. The company has a market cap of $1.95 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $86.96.

CONMED (NYSE:CNMD) last released 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 net margin of 10.13% and a return on equity of 14.60%. As a group, equities research analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s payout ratio is presently 18.87%.

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.