CONMED Co. (NYSE:CNMD) Shares Sold by Versor Investments LP

Versor Investments LP lowered its stake in shares of CONMED Co. (NYSE:CNMD) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,668 shares of the company’s stock after selling 1,038 shares during the period. Versor Investments LP’s holdings in CONMED were worth $525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its stake in shares of CONMED by 6.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after purchasing an additional 81,970 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CONMED by 1.2% during the third quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock valued at $49,879,000 after buying an additional 8,274 shares during the period. Principal Financial Group Inc. boosted its position in CONMED by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock worth $42,780,000 after acquiring an additional 4,343 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in CONMED by 0.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company’s stock worth $36,090,000 after acquiring an additional 4,032 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in CONMED by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock valued at $27,431,000 after acquiring an additional 16,340 shares during the last quarter.

Analysts Set New Price Targets

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

CONMED Stock Performance

CONMED stock opened at $59.09 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. CONMED Co. has a 12 month low of $58.73 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. The stock’s 50-day moving average is $67.38 and its 200-day moving average is $69.56.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating 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%. Equities analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.35%. CONMED’s dividend payout ratio is currently 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.