MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CONMED Co. (NYSE:CNMD – Free Report) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,554 shares of the company’s stock after purchasing an additional 664 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CONMED were worth $1,201,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in CONMED by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company’s stock worth $244,633,000 after acquiring an additional 44,777 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of CONMED by 0.9% during the 4th quarter. Earnest Partners LLC now owns 2,810,176 shares of the company’s stock valued at $192,328,000 after purchasing an additional 25,876 shares during the last quarter. Capital Research Global Investors increased its position in CONMED by 2.1% during the 4th quarter. Capital Research Global Investors now owns 1,577,172 shares of the company’s stock worth $107,942,000 after purchasing an additional 32,630 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in CONMED during the 4th quarter worth approximately $59,046,000. Finally, Dimensional Fund Advisors LP lifted its stake in CONMED by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company’s stock valued at $53,073,000 after purchasing an additional 57,149 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Needham & Company LLC dropped their target price on CONMED from $91.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus lowered shares of CONMED from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $55.00 in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.20.
CONMED Stock Down 1.2%
Shares of NYSE:CNMD opened at $55.38 on Monday. The firm has a market cap of $1.71 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.83 and a beta of 1.19. CONMED Co. has a 12-month low of $46.00 and a 12-month high of $78.58. The business has a fifty day simple moving average of $55.56 and a 200 day simple moving average of $63.83. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94.
CONMED (NYSE:CNMD – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The firm had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.
CONMED Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. CONMED’s dividend payout ratio (DPR) is currently 21.05%.
Insiders Place Their Bets
In related news, Director Charles Farkas sold 4,000 shares of the business’s 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 $930,741.24. The trade was a 19.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.
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