Proficio Capital Partners LLC Makes New $909,000 Investment in CONMED Co. (NYSE:CNMD)

Proficio Capital Partners LLC purchased a new position in shares of CONMED Co. (NYSE:CNMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,277 shares of the company’s stock, valued at approximately $909,000.

A number of other large investors also recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after buying an additional 280 shares during the last quarter. Epiq Partners LLC increased its holdings in CONMED by 2.2% in the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after purchasing an additional 302 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in 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 purchasing an additional 351 shares in the last quarter.

CONMED Stock Up 6.4 %

Shares of CONMED stock opened at $62.90 on Friday. The business has a 50-day moving average of $66.26 and a 200-day moving average of $69.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The company has a market capitalization of $1.94 billion, a PE ratio of 14.83, a P/E/G ratio of 1.83 and a beta of 1.53. CONMED Co. has a 1-year low of $55.22 and a 1-year high of $86.96.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate 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, equities analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal 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 given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. CONMED’s payout ratio is 18.87%.

Analyst Ratings Changes

CNMD has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Wells Fargo & Company lowered their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC lowered their price target on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.