Mutual of America Capital Management LLC Cuts Position in CONMED Co. (NYSE:CNMD)

Mutual of America Capital Management LLC cut its holdings in CONMED Co. (NYSE:CNMD) by 85.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,680 shares of the company’s stock after selling 26,533 shares during the period. Mutual of America Capital Management LLC’s holdings in CONMED were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in CONMED by 4.6% in the fourth 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 last quarter. HighTower Advisors LLC lifted its stake in CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after purchasing an additional 275 shares during the last quarter. QRG Capital Management Inc. lifted its stake in CONMED by 5.0% in the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after purchasing an additional 280 shares during the last quarter. Epiq Partners LLC raised its stake in shares of CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after acquiring an additional 302 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after acquiring an additional 351 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC lowered their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note 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 data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Price Performance

CNMD stock opened at $62.67 on Tuesday. CONMED Co. has a 1 year low of $55.22 and a 1 year high of $86.96. The company has a market cap of $1.94 billion, a P/E ratio of 14.78, a PEG ratio of 1.83 and a beta of 1.53. The firm has a 50-day moving average of $66.13 and a 200 day moving average of $69.24. 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 (NYSE:CNMD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be issued 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 1.28%. CONMED’s payout ratio is 18.87%.

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.