CONMED Co. (NYSE:CNMD) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its holdings in CONMED Co. (NYSE:CNMD) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,146 shares of the company’s stock after purchasing an additional 720 shares during the quarter. Los Angeles Capital Management LLC’s holdings in CONMED were worth $831,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after purchasing an additional 145 shares in the last quarter. HighTower Advisors LLC increased its position in shares of CONMED by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after acquiring an additional 275 shares during the period. QRG Capital Management Inc. increased its position in shares of CONMED by 5.0% in the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock valued at $419,000 after acquiring an additional 280 shares during the period. Epiq Partners LLC raised its stake in CONMED by 2.2% in the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after acquiring an additional 302 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in CONMED by 93.6% during the 4th 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.

CONMED Stock Performance

CNMD opened at $59.09 on Monday. The firm has a fifty day moving average price of $67.38 and a 200 day moving average price of $69.58. CONMED Co. has a 1 year low of $58.73 and a 1 year high of $86.96. The stock has a market cap of $1.83 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities research analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s payout ratio is currently 18.87%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price objective 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 reduced their target price for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, Needham & Company LLC lowered their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.20.

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.