Yousif Capital Management LLC Has $1.71 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Yousif Capital Management LLC grew its holdings in shares of CONMED Co. (NYSE:CNMD) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,613 shares of the company’s stock after buying an additional 228 shares during the quarter. Yousif Capital Management LLC owned 0.05% of CONMED worth $1,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in CONMED during the 4th quarter valued at about $40,000. Headlands Technologies LLC bought a new stake in CONMED during the third quarter worth $64,000. Xponance Inc. bought a new position in CONMED during the 4th quarter valued at $204,000. Olympiad Research LP purchased a new position in CONMED during the 3rd quarter worth $230,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of CONMED by 15.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,295 shares of the company’s stock worth $231,000 after acquiring an additional 308 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNMD. Piper Sandler dropped their price target on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company dropped their target price on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC reduced their target price on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

CONMED Stock Performance

CNMD stock opened at $68.36 on Thursday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.47. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $77.52 and a 200-day moving average of $93.01. The firm has a market cap of $2.11 billion, a PE ratio of 26.19, a P/E/G ratio of 0.64 and a beta of 1.33.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The business had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. As a group, sell-side analysts expect that CONMED Co. will post 4.3 earnings per share for the current year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.17%. CONMED’s payout ratio is 30.65%.

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.