CONMED Co. (NYSE:CNMD) Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of CONMED Co. (NYSE:CNMD) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,877 shares of the company’s stock after selling 310 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of CONMED worth $1,634,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after buying an additional 351 shares during the period. Pacer Advisors Inc. lifted its holdings in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after acquiring an additional 485 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after acquiring an additional 322 shares during the last quarter. CIBC Asset Management Inc acquired a new position in CONMED in the fourth quarter valued at approximately $210,000. Finally, bLong Financial LLC bought a new position in shares of CONMED during the fourth quarter valued at approximately $226,000.

CONMED Stock Down 1.7 %

Shares of CONMED stock opened at $58.86 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a 1-year low of $55.22 and a 1-year high of $80.65. The business’s fifty day moving average price is $63.78 and its two-hundred day moving average price is $67.99. The company has a market capitalization of $1.82 billion, a P/E ratio of 13.88, a PEG ratio of 1.83 and a beta of 1.53.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share 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, research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio is currently 18.87%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC cut their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered 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 research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price objective 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 stock. According to data from MarketBeat, CONMED currently has an average rating of “Moderate Buy” and an average target price 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.