Nordea Investment Management AB Has $5.14 Million Stake in CONMED Co. (NYSE:CNMD)

Nordea Investment Management AB increased its holdings in shares of CONMED Co. (NYSE:CNMD) by 31.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 73,587 shares of the company’s stock after acquiring an additional 17,633 shares during the period. Nordea Investment Management AB’s holdings in CONMED were worth $5,141,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares in the last quarter. CWM LLC raised its position in shares of CONMED by 36.1% in the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after purchasing an additional 332 shares during the period. nVerses Capital LLC raised its position in shares of CONMED by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after purchasing an additional 1,700 shares during the period. Federated Hermes Inc. bought a new position in shares of CONMED in the second quarter valued at about $167,000. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of CONMED in the third quarter valued at about $206,000.

CONMED Stock Up 0.0 %

CONMED stock opened at $68.79 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $113.68. The firm has a 50 day moving average price of $71.90 and a two-hundred day moving average price of $69.99. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.94 and a beta of 1.47.

CONMED (NYSE:CNMD) last released its quarterly earnings results 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 firm 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%. Equities analysts predict that CONMED Co. will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. CONMED’s dividend payout ratio is currently 19.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNMD. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

CONMED Company 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.