Atria Investments Inc Sells 2,460 Shares of CONMED Co. (NYSE:CNMD)

Atria Investments Inc lessened its stake in CONMED Co. (NYSE:CNMD) by 17.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,756 shares of the company’s stock after selling 2,460 shares during the period. Atria Investments Inc’s holdings in CONMED were worth $805,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after buying an additional 145 shares during the period. HighTower Advisors LLC grew its stake in CONMED by 4.1% in the 3rd 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. Epiq Partners LLC grew its position in shares of CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after purchasing an additional 302 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after purchasing an additional 322 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNMD. Stifel Nicolaus raised their price target 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. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Needham & Company LLC lowered their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.20.

CONMED Stock Down 1.1 %

Shares of NYSE CNMD opened at $58.49 on Friday. The firm has a fifty day simple moving average of $65.82 and a two-hundred day simple moving average of $69.10. The firm has a market capitalization of $1.81 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. CONMED Co. has a 12 month low of $55.22 and a 12 month high of $85.28.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share 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 analysts expect that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio is presently 18.87%.

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.