CONMED Co. (NYSE:CNMD) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of CONMED Co. (NYSE:CNMD) by 36.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,984 shares of the company’s stock after buying an additional 4,013 shares during the period. Victory Capital Management Inc.’s holdings in CONMED were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Champlain Investment Partners LLC increased its holdings in shares of CONMED by 6.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after buying an additional 81,970 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CONMED by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock worth $49,879,000 after buying an additional 8,274 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of CONMED by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock worth $42,780,000 after buying an additional 4,343 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of CONMED by 0.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company’s stock worth $36,090,000 after buying an additional 4,032 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock worth $28,569,000 after buying an additional 122,140 shares during the last quarter.

CONMED Stock Performance

Shares of CNMD stock opened at $59.03 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a 52 week low of $55.22 and a 52 week high of $81.22. The stock has a market capitalization of $1.82 billion, a PE ratio of 13.92, a P/E/G ratio of 1.83 and a beta of 1.53. The firm has a 50 day moving average of $64.76 and a two-hundred day moving average of $68.58.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. On average, research analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.36%. CONMED’s dividend payout ratio is presently 18.87%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNMD. Wells Fargo & Company dropped their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Stifel Nicolaus lifted their target price on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC dropped their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, CONMED currently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

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.