Swiss National Bank Increases Position in CONMED Co. (NYSE:CNMD)

Swiss National Bank boosted its position in CONMED Co. (NYSE:CNMD) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,600 shares of the company’s stock after acquiring an additional 500 shares during the period. Swiss National Bank owned about 0.20% of CONMED worth $4,147,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC grew its holdings in CONMED by 177.6% in the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after buying an additional 10,187 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock valued at $27,431,000 after purchasing an additional 16,340 shares during the period. Fisher Asset Management LLC increased its position in CONMED by 5.5% during the third quarter. Fisher Asset Management LLC now owns 295,290 shares of the company’s stock worth $21,237,000 after purchasing an additional 15,512 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in CONMED during the third quarter worth approximately $1,665,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CONMED by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company’s stock valued at $4,823,000 after purchasing an additional 1,095 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on CNMD shares. Wells Fargo & Company dropped their price objective on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus increased their target price on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, CONMED presently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Trading Down 1.8 %

Shares of NYSE CNMD opened at $59.70 on Wednesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The stock’s 50 day simple moving average is $64.25 and its 200 day simple moving average is $68.25. 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.

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

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s payout ratio is 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.