Fisher Asset Management LLC Raises Stake in CONMED Co. (NYSE:CNMD)

Fisher Asset Management LLC boosted its position in CONMED Co. (NYSE:CNMD) by 41.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,430 shares of the company’s stock after buying an additional 122,140 shares during the quarter. Fisher Asset Management LLC’s holdings in CONMED were worth $28,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares in the last quarter. Pacer Advisors Inc. boosted its stake in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in CONMED in the fourth quarter worth approximately $210,000. Blue Trust Inc. boosted its stake in CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares in the last quarter. Finally, bLong Financial LLC purchased a new stake in CONMED in the fourth quarter worth approximately $226,000.

CONMED Price Performance

Shares of CONMED stock opened at $59.09 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.83 billion, a PE ratio of 13.94, a P/E/G ratio of 1.83 and a beta of 1.46. The business has a 50 day moving average of $67.38 and a 200 day moving average of $69.58. CONMED Co. has a 52 week low of $58.73 and a 52 week high of $86.96.

CONMED (NYSE:CNMD) last announced its 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%. As a group, equities research analysts forecast 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. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. CONMED’s dividend payout ratio (DPR) is 18.87%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNMD. Wells Fargo & Company cut their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC lowered their price objective on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, CONMED has an average rating of “Moderate Buy” and a consensus target price of $77.20.

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.