Proficio Capital Partners LLC bought a new stake in shares of CONMED Co. (NYSE:CNMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,277 shares of the company's stock, valued at approximately $909,000.
A number of other institutional investors also recently bought and sold shares of the stock. Illinois Municipal Retirement Fund lifted its position in CONMED by 3.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 16,514 shares of the company's stock worth $1,130,000 after buying an additional 566 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in CONMED by 6.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 12,146 shares of the company's stock worth $831,000 after buying an additional 720 shares during the last quarter. Olympiad Research LP bought a new stake in CONMED in the fourth quarter worth $340,000. Handelsbanken Fonder AB lifted its position in CONMED by 12.0% in the fourth quarter. Handelsbanken Fonder AB now owns 11,223 shares of the company's stock worth $768,000 after buying an additional 1,200 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in CONMED by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 192,392 shares of the company's stock worth $13,167,000 after purchasing an additional 1,143 shares during the period.
Shares of CONMED stock traded up $3.76 during trading on Friday, hitting $62.90. 659,565 shares of the stock traded hands, compared to its average volume of 445,059. The firm has a market cap of $1.94 billion, a P/E ratio of 14.83, 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 52-week low of $55.22 and a 52-week high of $86.96. The stock's fifty day simple moving average is $66.26 and its 200 day simple moving average is $69.27.
CONMED (NYSE:CNMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, equities analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.27%. CONMED's dividend payout ratio (DPR) is presently 18.87%.
CNMD has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their target price on CONMED from $97.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus increased their target price on CONMED from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Wells Fargo & Company reduced their target price on CONMED from $74.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, CONMED currently has a consensus rating of "Moderate Buy" and an average target price of $77.20.
Check Out Our Latest Stock Report on CNMD
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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