Cooke & Bieler LP Sells 4,760 Shares of CONMED Co. (NYSE:CNMD)

Cooke & Bieler LP decreased its stake in shares of CONMED Co. (NYSE:CNMD) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 664,043 shares of the company’s stock after selling 4,760 shares during the period. Cooke & Bieler LP’s holdings in CONMED were worth $45,447,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in CONMED during the fourth quarter worth $18,248,000. Proficio Capital Partners LLC acquired a new position in shares of CONMED during the fourth quarter valued at about $909,000. Victory Capital Management Inc. boosted its position in shares of CONMED by 36.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,984 shares of the company’s stock worth $1,026,000 after purchasing an additional 4,013 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CONMED by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,950 shares of the company’s stock valued at $26,209,000 after buying an additional 1,537 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares in the last quarter.

CONMED Trading Down 0.1 %

NYSE CNMD opened at $62.67 on Tuesday. The firm has a market cap of $1.94 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. CONMED Co. has a 1-year low of $55.22 and a 1-year high of $86.96. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average of $66.13 and a 200-day moving average of $69.24.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, sell-side analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.28%. CONMED’s payout ratio is 18.87%.

Analysts Set New Price Targets

CNMD has been the topic of several recent research reports. Wells Fargo & Company cut their price target on 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. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.