Principal Financial Group Inc. Has $44.63 Million Position in CONMED Co. (NYSE:CNMD)

Principal Financial Group Inc. lifted its holdings in CONMED Co. (NYSE:CNMD) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 620,715 shares of the company’s stock after buying an additional 25,047 shares during the period. Principal Financial Group Inc. owned about 2.01% of CONMED worth $44,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Intech Investment Management LLC grew its stake in CONMED by 177.6% during the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after acquiring an additional 10,187 shares in the last quarter. Millrace Asset Group Inc. purchased a new position in CONMED during the third quarter valued at approximately $1,665,000. Natixis Advisors LLC increased its stake in CONMED by 74.8% in the 2nd quarter. Natixis Advisors LLC now owns 81,189 shares of the company’s stock valued at $5,628,000 after buying an additional 34,744 shares during the period. Deerfield Management Company L.P. Series C lifted its position in CONMED by 86.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock worth $43,759,000 after buying an additional 293,099 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of CONMED by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company’s stock valued at $4,823,000 after buying an additional 1,095 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $97.00 price target on shares of CONMED in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CONMED Price Performance

Shares of NYSE:CNMD opened at $68.63 on Monday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 16.30, a P/E/G ratio of 0.94 and a beta of 1.46. The business has a 50-day moving average of $70.57 and a two-hundred day moving average of $70.26. CONMED Co. has a fifty-two week low of $61.05 and a fifty-two week high of $114.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06.

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

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.17%. CONMED’s dividend payout ratio (DPR) is presently 19.00%.

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.