Fifth Third Bancorp trimmed its stake in shares of CONMED Co. (NYSE:CNMD – Free Report) by 29.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,696 shares of the company’s stock after selling 7,487 shares during the period. Fifth Third Bancorp’s holdings in CONMED were worth $1,211,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CNMD. HighTower Advisors LLC increased its position in shares of CONMED by 4.1% during 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 in the last quarter. QRG Capital Management Inc. grew its position 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 acquiring an additional 280 shares during the period. CWM LLC increased its position in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of CONMED by 3.7% during the third quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock valued at $672,000 after acquiring an additional 333 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the period.
CONMED Stock Performance
Shares of CNMD opened at $70.93 on Wednesday. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $97.08. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average price of $70.85 and a 200 day moving average price of $70.19.
CONMED Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s payout ratio is 19.00%.
Wall Street Analyst Weigh In
CNMD has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.
Check Out Our Latest Report on CONMED
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.
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