GAMMA Investing LLC Boosts Stock Position in CONMED Co. (NYSE:CNMD)

GAMMA Investing LLC boosted its holdings in CONMED Co. (NYSE:CNMD) by 93.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 726 shares of the company’s stock after buying an additional 351 shares during the quarter. GAMMA Investing LLC’s holdings in CONMED were worth $50,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CNMD. Commonwealth Equity Services LLC increased its holdings in CONMED by 50.9% in the second quarter. Commonwealth Equity Services LLC now owns 3,934 shares of the company’s stock valued at $273,000 after buying an additional 1,327 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of CONMED by 6.4% during the second quarter. Victory Capital Management Inc. now owns 11,022 shares of the company’s stock worth $764,000 after purchasing an additional 666 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of CONMED by 2.0% during the second quarter. Arizona State Retirement System now owns 8,619 shares of the company’s stock worth $597,000 after purchasing an additional 168 shares during the last quarter. Choreo LLC purchased a new position in shares of CONMED during the second quarter worth about $399,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of CONMED by 8.4% during the second quarter. Texas Permanent School Fund Corp now owns 28,751 shares of the company’s stock worth $1,993,000 after purchasing an additional 2,226 shares during the last quarter.

CONMED Price Performance

Shares of CNMD opened at $69.41 on Tuesday. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $111.10. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 0.94 and a beta of 1.47. The firm has a 50-day simple moving average of $71.85 and a 200-day simple moving average of $70.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27.

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

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. CONMED’s payout ratio is 19.00%.

Wall Street Analyst Weigh In

CNMD has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.