CONMED Co. (NYSE:CNMD) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in shares of CONMED Co. (NYSE:CNMD) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,205 shares of the company’s stock after selling 6,737 shares during the quarter. Confluence Investment Management LLC’s holdings in CONMED were worth $9,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in shares of CONMED by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock valued at $597,000 after purchasing an additional 168 shares in the last quarter. HighTower Advisors LLC increased its holdings in CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after buying an additional 275 shares during the last quarter. QRG Capital Management Inc. raised its stake in CONMED by 5.0% during the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock valued at $419,000 after buying an additional 280 shares in the last quarter. CWM LLC lifted its holdings in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of CONMED by 3.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock worth $672,000 after acquiring an additional 333 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNMD shares. Needham & Company LLC reissued a “buy” rating and set a $97.00 price target on shares of CONMED in a research report on Thursday, October 31st. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CONMED presently has an average rating of “Moderate Buy” and an average price target of $79.80.

CONMED Price Performance

Shares of CNMD opened at $67.35 on Friday. CONMED Co. has a 12 month low of $61.05 and a 12 month high of $113.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The stock has a fifty day moving average price of $71.53 and a 200 day moving average price of $69.97. The company has a market cap of $2.08 billion, a P/E ratio of 16.00, a PEG ratio of 0.94 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. On average, research analysts forecast that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. CONMED’s dividend payout ratio (DPR) is presently 19.00%.

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.