CONMED Co. (NYSE:CNMD) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in shares of CONMED Co. (NYSE:CNMD) by 29.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,696 shares of the company’s stock after selling 7,487 shares during the period. Fifth Third Bancorp owned approximately 0.06% of CONMED worth $1,211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. AMI Asset Management Corp grew its position in CONMED by 41.5% during the 4th quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock worth $1,401,000 after purchasing an additional 6,008 shares during the last quarter. Avity Investment Management Inc. acquired a new stake in shares of CONMED during the fourth quarter worth $278,000. Tealwood Asset Management Inc. acquired a new stake in shares of CONMED during the fourth quarter worth $1,142,000. Nordea Investment Management AB grew its holdings in shares of CONMED by 31.5% during the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock valued at $5,141,000 after buying an additional 17,633 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $97.00 price objective on shares of CONMED in a report on Thursday, October 31st. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CONMED has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

CONMED Trading Down 0.4 %

Shares of NYSE:CNMD opened at $70.93 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $97.08. The business has a 50 day moving average of $70.85 and a two-hundred day moving average of $70.19. The company has a market capitalization of $2.19 billion, a PE ratio of 16.85, a PEG ratio of 0.77 and a beta of 1.47.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million during 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%. As a group, analysts forecast that CONMED Co. will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. CONMED’s dividend payout ratio is presently 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.