Vanguard Group Inc. Acquires 44,777 Shares of CONMED Co. (NYSE:CNMD)

Vanguard Group Inc. raised its holdings in CONMED Co. (NYSE:CNMD) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,574,420 shares of the company’s stock after acquiring an additional 44,777 shares during the period. Vanguard Group Inc. owned approximately 11.57% of CONMED worth $244,633,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CNMD. GAMMA Investing LLC raised 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 valued at $50,000 after buying an additional 351 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of CONMED by 41.4% in 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 during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after purchasing an additional 322 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of CONMED during the 4th quarter valued at $210,000. Finally, 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 worth $235,000 after purchasing an additional 145 shares during the period.

CONMED Stock Down 2.9 %

Shares of CONMED stock opened at $56.23 on Friday. 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 company has a market cap of $1.74 billion, a P/E ratio of 13.26, a PEG ratio of 1.83 and a beta of 1.28. The firm’s 50 day moving average price is $62.73 and its 200-day moving average price is $67.46. CONMED Co. has a 52-week low of $54.97 and a 52-week high of $80.65.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS 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, sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. CONMED’s dividend payout ratio (DPR) is 18.87%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus raised their price target on 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 decreased their price target for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their price objective 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, CONMED has an average rating of “Moderate Buy” and a consensus price target of $77.20.

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.