Nisa Investment Advisors LLC Sells 1,529 Shares of CONMED Co. (NYSE:CNMD)

Nisa Investment Advisors LLC lowered its stake in CONMED Co. (NYSE:CNMD) by 16.3% in the fourth quarter, Holdings Channel reports. The fund owned 7,880 shares of the company’s stock after selling 1,529 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CONMED were worth $541,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares in the last quarter. CWM LLC increased its holdings in CONMED by 36.1% in the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares in the last quarter. nVerses Capital LLC raised its position in 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 last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of CONMED during the third quarter valued at about $206,000. Finally, Blue Trust Inc. grew its holdings in shares of CONMED by 26.5% during the third quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock worth $216,000 after purchasing an additional 653 shares during the last quarter.

Wall Street Analyst Weigh In

CNMD has been the topic of several recent research reports. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

CONMED Stock Performance

CNMD stock opened at $70.93 on Wednesday. The firm has a market cap of $2.19 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.47. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $70.85 and a 200-day moving average price of $70.19. CONMED Co. has a 1-year low of $61.05 and a 1-year high of $97.08.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $316.70 million during the quarter, compared to the consensus estimate of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. As a group, equities research analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Announces Dividend

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 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 currently 19.00%.

About CONMED

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.