Bryce Point Capital LLC Makes New $473,000 Investment in CONMED Co. (NYSE:CNMD)

Bryce Point Capital LLC bought a new position in CONMED Co. (NYSE:CNMD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,912 shares of the company’s stock, valued at approximately $473,000.

A number of other large investors have also bought and sold shares of CNMD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CONMED by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 67,062 shares of the company’s stock worth $4,823,000 after purchasing an additional 1,095 shares in the last quarter. Captrust Financial Advisors lifted its position in CONMED by 22.9% during the 3rd quarter. Captrust Financial Advisors now owns 6,251 shares of the company’s stock worth $450,000 after buying an additional 1,164 shares in the last quarter. HighTower Advisors LLC grew its holdings in CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after acquiring an additional 275 shares during the last quarter. Stifel Financial Corp increased its position in CONMED by 13.8% in the 3rd quarter. Stifel Financial Corp now owns 30,675 shares of the company’s stock valued at $2,206,000 after acquiring an additional 3,712 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of CONMED by 6.6% in the third quarter. Public Employees Retirement System of Ohio now owns 50,760 shares of the company’s stock worth $3,651,000 after acquiring an additional 3,155 shares during the last quarter.

Analyst Upgrades and Downgrades

CNMD has been the topic of several research analyst reports. 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 research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Needham & Company LLC dropped their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CONMED currently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Trading Down 2.9 %

NYSE CNMD opened at $56.23 on Friday. CONMED Co. has a 12 month low of $54.97 and a 12 month high of $80.65. The stock has a 50-day simple moving average of $62.73 and a 200 day simple moving average of $67.51. 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 company has a market capitalization of $1.74 billion, a PE ratio of 13.26, a P/E/G ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 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%. Research analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. CONMED’s dividend payout ratio (DPR) is 18.87%.

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.