Vanguard Group Inc. Sells 281 Shares of CONMED Co. (NYSE:CNMD)

Vanguard Group Inc. lowered its holdings in CONMED Co. (NYSE:CNMDFree Report) by 0.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,440,459 shares of the company’s stock after selling 281 shares during the period. Vanguard Group Inc. owned approximately 11.19% of CONMED worth $346,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in CONMED during the fourth quarter valued at approximately $15,964,000. BNP Paribas Arbitrage SNC grew its stake in CONMED by 1,225.0% during the third quarter. BNP Paribas Arbitrage SNC now owns 113,205 shares of the company’s stock valued at $9,076,000 after acquiring an additional 104,661 shares in the last quarter. Eagle Asset Management Inc. grew its stake in CONMED by 67.3% during the third quarter. Eagle Asset Management Inc. now owns 198,982 shares of the company’s stock valued at $20,067,000 after acquiring an additional 80,036 shares in the last quarter. Sectoral Asset Management Inc. grew its stake in CONMED by 150.5% during the third quarter. Sectoral Asset Management Inc. now owns 114,000 shares of the company’s stock valued at $11,497,000 after acquiring an additional 68,500 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its stake in CONMED by 32.3% during the third quarter. Congress Asset Management Co. MA now owns 278,187 shares of the company’s stock valued at $28,055,000 after acquiring an additional 67,866 shares in the last quarter.

CONMED Price Performance

Shares of CONMED stock opened at $77.09 on Wednesday. CONMED Co. has a 52-week low of $74.67 and a 52-week high of $138.47. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.33. The company has a fifty day moving average of $85.06 and a 200-day moving average of $97.74. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98.

CONMED (NYSE:CNMDGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). CONMED had a net margin of 5.18% and a return on equity of 13.69%. The business had revenue of $327.05 million during the quarter, compared to analysts’ expectations of $332.94 million. Equities research analysts expect that CONMED Co. will post 4.34 EPS for the current year.

CONMED Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.04%. CONMED’s dividend payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

CNMD has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Piper Sandler cut their price target on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company cut their price target on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, February 1st. Finally, Needham & Company LLC boosted their price target on shares of CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.43.

View Our Latest Stock Report on CNMD

CONMED Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CONMED (NYSE:CNMD)

Receive News & Ratings for CONMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.