Victory Capital Management Inc. Boosts Holdings in CONMED Co. (NYSE:CNMD)

Victory Capital Management Inc. raised its holdings in CONMED Co. (NYSE:CNMD) by 36.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,984 shares of the company’s stock after purchasing an additional 4,013 shares during the quarter. Victory Capital Management Inc.’s holdings in CONMED were worth $1,026,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNMD. GAMMA Investing LLC boosted its stake 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 acquiring an additional 351 shares in the last quarter. Pacer Advisors Inc. boosted its stake 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 acquiring an additional 485 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after acquiring an additional 322 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of CONMED during the 4th quarter worth about $210,000. Finally, bLong Financial LLC purchased a new stake in shares of CONMED during the 4th quarter worth about $226,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNMD. Wells Fargo & Company decreased 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 note on Thursday, February 6th. Needham & Company LLC decreased their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, CONMED currently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Stock Up 0.2 %

CNMD stock opened at $59.03 on Friday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.83 and a beta of 1.53. 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 Co. has a 12 month low of $55.22 and a 12 month high of $81.22. The firm has a 50-day moving average of $64.76 and a two-hundred day moving average of $68.58.

CONMED (NYSE:CNMD) last released 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%. As a group, analysts forecast that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. CONMED’s payout ratio is 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.