266,625 Shares in CONMED Co. (NYSE:CNMD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in CONMED Co. (NYSE:CNMD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 266,625 shares of the company’s stock, valued at approximately $18,248,000. Raymond James Financial Inc. owned approximately 0.86% of CONMED at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after purchasing an additional 351 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of CONMED during the 4th quarter worth about $210,000. Finally, bLong Financial LLC purchased a new stake in shares of CONMED during the 4th quarter worth about $226,000.

Analyst Upgrades and Downgrades

CNMD has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC lowered their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. 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. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, February 6th. Three investment 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, CONMED currently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

CONMED Trading Up 4.5 %

Shares of CNMD opened at $61.46 on Tuesday. The stock has a fifty day moving average price of $65.32 and a two-hundred day moving average price of $68.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a 52-week low of $55.22 and a 52-week high of $81.22. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 14.50, 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 (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. Analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced 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 is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. CONMED’s payout ratio is currently 18.87%.

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.