Geode Capital Management LLC Grows Stock Holdings in CONMED Co. (NYSE:CNMD)

Geode Capital Management LLC lifted its position in shares of CONMED Co. (NYSE:CNMDFree Report) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 693,400 shares of the company’s stock after purchasing an additional 8,274 shares during the period. Geode Capital Management LLC’s holdings in CONMED were worth $49,879,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNMD. Louisiana State Employees Retirement System raised its position in CONMED by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock valued at $1,074,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of CONMED by 17,519.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 88,099 shares of the company’s stock valued at $6,107,000 after acquiring an additional 87,599 shares in the last quarter. Legato Capital Management LLC purchased a new stake in CONMED in the second quarter worth $684,000. Innealta Capital LLC bought a new stake in CONMED in the second quarter valued at $41,000. Finally, Peregrine Capital Management LLC increased its position in CONMED by 1.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 97,637 shares of the company’s stock valued at $6,768,000 after purchasing an additional 1,244 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNMD. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Read Our Latest Research Report on CNMD

CONMED Stock Down 2.0 %

NYSE:CNMD opened at $68.63 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The firm’s 50-day moving average price is $70.57 and its 200-day moving average price is $70.26. The company has a market capitalization of $2.12 billion, a PE ratio of 16.30, a P/E/G ratio of 0.94 and a beta of 1.46. CONMED Co. has a 1-year low of $61.05 and a 1-year high of $114.80.

CONMED (NYSE:CNMDGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a net margin of 10.23% and a return on equity of 13.84%. The business had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. On average, equities analysts predict that CONMED Co. will post 4.03 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, December 20th. CONMED’s payout ratio is 19.00%.

About CONMED

(Free Report)

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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Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

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