Swiss National Bank Has $4.15 Million Stake in CONMED Co. (NYSE:CNMD)

Swiss National Bank increased its holdings in CONMED Co. (NYSE:CNMD) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,600 shares of the company’s stock after acquiring an additional 500 shares during the period. Swiss National Bank’s holdings in CONMED were worth $4,147,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in CONMED in the fourth quarter valued at about $5,790,000. Raymond James Financial Inc. bought a new position in CONMED in the 4th quarter worth approximately $18,248,000. Proficio Capital Partners LLC bought a new position in shares of CONMED during the 4th quarter worth about $909,000. Victory Capital Management Inc. grew its holdings 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. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CONMED by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,950 shares of the company’s stock worth $26,209,000 after acquiring an additional 1,537 shares during the period.

Analyst Upgrades and Downgrades

CNMD has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Needham & Company LLC dropped their target price on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus raised their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three equities 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

CONMED Price Performance

Shares of CNMD opened at $59.70 on Wednesday. CONMED Co. has a 1 year low of $55.22 and a 1 year high of $81.22. 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 market cap of $1.85 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The stock’s 50-day moving average price is $64.25 and its two-hundred day moving average price is $68.25.

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

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. CONMED’s dividend payout ratio is currently 18.87%.

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.