Confluence Investment Management LLC Trims Stock Holdings in CONMED Co. (NYSE:CNMD)

Confluence Investment Management LLC lessened its stake in shares of CONMED Co. (NYSE:CNMD) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,205 shares of the company’s stock after selling 6,737 shares during the quarter. Confluence Investment Management LLC owned approximately 0.45% of CONMED worth $9,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC boosted its holdings in shares of CONMED by 18.9% during the second quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock worth $195,386,000 after purchasing an additional 447,498 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its position in CONMED by 86.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock worth $43,759,000 after buying an additional 293,099 shares during the period. Champlain Investment Partners LLC boosted its stake in CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after buying an additional 81,970 shares during the last quarter. Clearbridge Investments LLC grew its holdings in CONMED by 23.4% in the 2nd quarter. Clearbridge Investments LLC now owns 421,465 shares of the company’s stock valued at $29,216,000 after buying an additional 80,025 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CONMED by 75.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 154,446 shares of the company’s stock valued at $11,108,000 after buying an additional 66,347 shares during the period.

CONMED Stock Down 1.6 %

CNMD opened at $67.35 on Friday. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $113.68. The firm has a 50 day moving average price of $71.53 and a 200 day moving average price of $69.97. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The company has a market cap of $2.08 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. Sell-side analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Dividend Announcement

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 dividend yield of 1.19%. The ex-dividend date is Friday, December 20th. CONMED’s dividend payout ratio is presently 19.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNMD shares. Needham & Company LLC reissued a “buy” rating and issued a $97.00 target price on shares of CONMED in a research report on Thursday, October 31st. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

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.