Orion Portfolio Solutions LLC Lowers Stock Position in CONMED Co. (NYSE:CNMD)

Orion Portfolio Solutions LLC lessened its holdings in shares of CONMED Co. (NYSE:CNMD) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,945 shares of the company’s stock after selling 210 shares during the period. Orion Portfolio Solutions LLC’s holdings in CONMED were worth $212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in shares of CONMED by 13.8% in the 3rd quarter. Stifel Financial Corp now owns 30,675 shares of the company’s stock worth $2,206,000 after buying an additional 3,712 shares during the last quarter. HighTower Advisors LLC boosted its holdings in CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after acquiring an additional 275 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of CONMED by 0.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company’s stock worth $36,090,000 after acquiring an additional 4,032 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of CONMED by 22.9% during the third quarter. Captrust Financial Advisors now owns 6,251 shares of the company’s stock valued at $450,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Walleye Trading LLC purchased a new position in shares of CONMED in the 3rd quarter worth about $961,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNMD. Needham & Company LLC reaffirmed a “buy” rating and issued a $97.00 target price on shares of CONMED in a report 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Stock Performance

CNMD stock opened at $68.63 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. 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 stock’s fifty day moving average price is $70.57 and its 200-day moving average price is $70.32. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $114.80.

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

CONMED Dividend Announcement

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

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.