CONMED Co. (NYSE:CNMD) Holdings Raised by Graham Capital Management L.P.

Graham Capital Management L.P. grew its stake in shares of CONMED Co. (NYSE:CNMD) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,214 shares of the company’s stock after acquiring an additional 518 shares during the period. Graham Capital Management L.P.’s holdings in CONMED were worth $494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridge City Capital LLC boosted its position in CONMED by 20.8% during the fourth quarter. Bridge City Capital LLC now owns 44,056 shares of the company’s stock valued at $3,015,000 after purchasing an additional 7,597 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CONMED during the 4th quarter valued at about $18,248,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of CONMED by 44.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after buying an additional 68,696 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of CONMED during the 4th quarter valued at about $909,000. Finally, Integrated Quantitative Investments LLC bought a new stake in shares of CONMED in the 4th quarter valued at approximately $947,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNMD. Wells Fargo & Company cut their price objective on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered shares of CONMED from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Needham & Company LLC lowered their target price on shares of CONMED from $91.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.20.

CONMED Price Performance

NYSE CNMD opened at $59.65 on Friday. CONMED Co. has a 1 year low of $46.00 and a 1 year high of $78.58. The company has a fifty day simple moving average of $55.79 and a 200 day simple moving average of $64.43. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.85 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.83 and a beta of 1.19.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. The company had revenue of $321.26 million during the quarter, compared to analysts’ expectations of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. On average, sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 21.05%.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the sale, the director now directly owns 16,346 shares in the company, valued at $930,741.24. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

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.