Prudential Financial Inc. Has $3.32 Million Holdings in CONMED Co. (NYSE:CNMD)

Prudential Financial Inc. raised its position in CONMED Co. (NYSE:CNMD) by 38.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,972 shares of the company’s stock after purchasing an additional 12,722 shares during the quarter. Prudential Financial Inc. owned 0.15% of CONMED worth $3,321,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CNMD. Blue Trust Inc. raised its position in CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after buying an additional 145 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after purchasing an additional 275 shares during the last quarter. Epiq Partners LLC lifted its position in shares of CONMED by 2.2% in the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC decreased their price target on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Price Performance

Shares of NYSE CNMD opened at $60.65 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average price is $63.20 and its two-hundred day moving average price is $67.71. The company has a market cap of $1.87 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. CONMED Co. has a twelve month low of $55.22 and a twelve month high of $80.65.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping 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%. On average, analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. The ex-dividend date 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.