Hsbc Holdings PLC Sells 5,473 Shares of CONMED Co. (NYSE:CNMD)

Hsbc Holdings PLC cut its position in CONMED Co. (NYSE:CNMD) by 54.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,590 shares of the company’s stock after selling 5,473 shares during the quarter. Hsbc Holdings PLC’s holdings in CONMED were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new position in shares of CONMED in the fourth quarter valued at about $21,395,000. Raymond James Financial Inc. bought a new stake in CONMED in the 4th quarter valued at about $18,248,000. Fisher Asset Management LLC grew its position in shares of CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock worth $28,569,000 after purchasing an additional 122,140 shares in the last quarter. Natixis increased its holdings in shares of CONMED by 1,069.2% during the fourth quarter. Natixis now owns 114,000 shares of the company’s stock worth $7,802,000 after purchasing an additional 104,250 shares during the period. Finally, Osterweis Capital Management Inc. raised its position in shares of CONMED by 93.8% in the fourth quarter. Osterweis Capital Management Inc. now owns 186,970 shares of the company’s stock valued at $12,796,000 after buying an additional 90,505 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction on Monday, May 5th. The shares were sold at an average price of $56.94, for a total transaction of $227,760.00. Following the transaction, the director now owns 16,346 shares in the company, valued at approximately $930,741.24. The trade was a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

CONMED Stock Down 1.1 %

Shares of NYSE CNMD opened at $57.12 on Friday. The stock has a 50-day moving average price of $55.86 and a two-hundred day moving average price of $64.51. CONMED Co. has a 12 month low of $46.00 and a 12 month high of $78.58. 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 $1.77 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.83 and a beta of 1.19.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. As a group, analysts forecast 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 was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.40%. CONMED’s dividend payout ratio is presently 21.05%.

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.