Louisiana State Employees Retirement System Has $1.07 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Louisiana State Employees Retirement System cut its holdings in CONMED Co. (NYSE:CNMD) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,900 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in CONMED were worth $1,072,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Capstone Investment Advisors LLC bought a new position in CONMED in the first quarter worth $462,000. FORA Capital LLC increased its stake in shares of CONMED by 353.1% in the first quarter. FORA Capital LLC now owns 10,567 shares of the company’s stock valued at $846,000 after buying an additional 8,235 shares in the last quarter. Jennison Associates LLC raised its stake in shares of CONMED by 1.3% in the first quarter. Jennison Associates LLC now owns 349,436 shares of the company’s stock worth $27,983,000 after acquiring an additional 4,321 shares during the last quarter. GSA Capital Partners LLP raised its position in CONMED by 12.0% in the 1st quarter. GSA Capital Partners LLP now owns 9,540 shares of the company’s stock worth $764,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Duality Advisers LP lifted its stake in shares of CONMED by 149.5% during the first quarter. Duality Advisers LP now owns 18,541 shares of the company’s stock valued at $1,485,000 after acquiring an additional 11,110 shares during the period.

CONMED Stock Performance

CNMD opened at $70.40 on Friday. The business has a 50 day moving average of $69.52 and a 200-day moving average of $70.12. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $117.27. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.85 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 14.15% and a net margin of 10.23%. The company had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. On average, equities research analysts expect that CONMED Co. will post 3.99 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. CONMED’s dividend payout ratio is presently 19.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CNMD shares. Stifel Nicolaus reduced their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler lowered their target price on CONMED from $95.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company cut their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CONMED has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.