Peregrine Capital Management LLC Has $6.82 Million Position in CONMED Co. (NYSE:CNMD)

Peregrine Capital Management LLC boosted its position in CONMED Co. (NYSE:CNMD) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,601 shares of the company’s stock after buying an additional 1,750 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.32% of CONMED worth $6,817,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CNMD. GAMMA Investing LLC raised its holdings in shares of CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. CWM LLC lifted its position in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of CONMED in the 4th quarter valued at about $210,000. Finally, Blue Trust Inc. grew its holdings in shares of CONMED by 26.5% in the 3rd quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock valued at $216,000 after acquiring an additional 653 shares in the last quarter.

CONMED Trading Down 0.5 %

CNMD stock opened at $62.86 on Wednesday. CONMED Co. has a one year low of $61.05 and a one year high of $86.96. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The company has a fifty day moving average price of $68.96 and a two-hundred day moving average price of $69.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. Equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNMD. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Stifel Nicolaus increased their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. cut shares of CONMED from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Needham & Company LLC lowered their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED 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.