Sanctuary Advisors LLC Has $1.16 Million Holdings in CONMED Co. (NYSE:CNMD)

Sanctuary Advisors LLC lifted its holdings in CONMED Co. (NYSE:CNMD) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,425 shares of the company’s stock after purchasing an additional 2,568 shares during the period. Sanctuary Advisors LLC owned 0.05% of CONMED worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of CONMED by 93.6% during the 4th 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. 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 valued at $113,000 after acquiring 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 valued at $235,000 after acquiring an additional 145 shares in the last quarter. bLong Financial LLC acquired a new position in CONMED in the fourth quarter valued at about $226,000. Finally, PEAK6 Investments LLC acquired a new position in CONMED in the third quarter valued at about $275,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNMD. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Needham & Company LLC cut 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, Wells Fargo & Company cut their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Up 1.2 %

CONMED stock opened at $62.73 on Wednesday. The company has a market cap of $1.94 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. CONMED Co. has a 1-year low of $59.50 and a 1-year high of $86.96. The company has a fifty day simple moving average of $67.94 and a 200 day simple moving average of $69.72. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Research analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

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.