KLP Kapitalforvaltning AS Makes New $432,000 Investment in CONMED Co. (NYSE:CNMD)

KLP Kapitalforvaltning AS acquired a new stake in CONMED Co. (NYSE:CNMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,300 shares of the company’s stock, valued at approximately $432,000.

Several other institutional investors also recently modified their holdings of CNMD. Blue Trust Inc. grew its holdings in CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after purchasing an additional 145 shares during the period. HighTower Advisors LLC lifted its position in shares of CONMED by 4.1% in the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after buying an additional 275 shares during the last quarter. Epiq Partners LLC boosted its stake in shares of CONMED by 2.2% during 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 period. Smartleaf Asset Management LLC increased its holdings in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after acquiring an additional 322 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after acquiring an additional 351 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reduced their price objective on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company reduced 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. Stifel Nicolaus increased their price target 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, JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Price Performance

NYSE:CNMD opened at $56.23 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.83 and a beta of 1.28. CONMED Co. has a 52 week low of $54.97 and a 52 week high of $80.65. The firm’s 50-day simple moving average is $62.73 and its 200 day simple moving average is $67.51.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. CONMED’s payout ratio is 18.87%.

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.