CONMED Co. (NYSE:CNMD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in CONMED Co. (NYSE:CNMD) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 23,877 shares of the company’s stock after selling 310 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CONMED were worth $1,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNMD. Natixis Advisors LLC increased its holdings in shares of CONMED by 10.5% in the fourth quarter. Natixis Advisors LLC now owns 122,550 shares of the company’s stock valued at $8,387,000 after buying an additional 11,641 shares in the last quarter. Aurora Investment Counsel raised its position in shares of CONMED by 12.0% during the fourth quarter. Aurora Investment Counsel now owns 17,133 shares of the company’s stock worth $1,173,000 after purchasing an additional 1,841 shares during the period. Swiss National Bank lifted its holdings in shares of CONMED by 0.8% during the fourth quarter. Swiss National Bank now owns 60,600 shares of the company’s stock valued at $4,147,000 after purchasing an additional 500 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of CONMED in the 4th quarter valued at $5,790,000. Finally, Raymond James Financial Inc. purchased a new position in CONMED in the 4th quarter worth about $18,248,000.

CONMED Price Performance

NYSE CNMD opened at $58.86 on Monday. The company has a 50 day simple moving average of $63.78 and a 200-day simple moving average of $67.99. CONMED Co. has a 52-week low of $55.22 and a 52-week high of $80.65. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities research analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Analyst Ratings Changes

A number of research firms have commented on CNMD. Stifel Nicolaus upped their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price objective on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

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.