Mountain Pacific Investment Advisers Inc. ID Purchases 48,050 Shares of CONMED Co. (NYSE:CNMD)

Mountain Pacific Investment Advisers Inc. ID raised its position in CONMED Co. (NYSE:CNMD) by 33.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,426 shares of the company’s stock after purchasing an additional 48,050 shares during the quarter. CONMED accounts for approximately 1.3% of Mountain Pacific Investment Advisers Inc. ID’s holdings, making the stock its 28th biggest holding. Mountain Pacific Investment Advisers Inc. ID owned approximately 0.63% of CONMED worth $21,073,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Earnest Partners LLC boosted its position in CONMED by 2.0% in the 3rd quarter. Earnest Partners LLC now owns 2,265,092 shares of the company’s stock valued at $228,435,000 after buying an additional 44,076 shares during the period. Northern Trust Corp grew its position in shares of CONMED by 0.3% during the 3rd quarter. Northern Trust Corp now owns 339,332 shares of the company’s stock worth $34,222,000 after buying an additional 1,115 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CONMED by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 305,136 shares of the company’s stock valued at $30,773,000 after acquiring an additional 9,664 shares in the last quarter. Congress Asset Management Co. MA lifted its stake in CONMED by 32.3% in the third quarter. Congress Asset Management Co. MA now owns 278,187 shares of the company’s stock worth $28,055,000 after acquiring an additional 67,866 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in CONMED by 10.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 249,371 shares of the company’s stock worth $25,149,000 after acquiring an additional 23,540 shares in the last quarter.

Analyst Upgrades and Downgrades

CNMD has been the subject of several recent research reports. Needham & Company LLC reduced their price target on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their target price on CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler cut their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on CONMED from $98.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.86.

CONMED Stock Up 6.3 %

NYSE:CNMD opened at $65.80 on Friday. The company’s 50 day moving average is $78.06 and its two-hundred day moving average is $93.44. The company has a market cap of $2.03 billion, a PE ratio of 25.21, a P/E/G ratio of 0.63 and a beta of 1.33. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The firm had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.99% and a net margin of 6.53%. Analysts anticipate that CONMED Co. will post 4.34 EPS for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. CONMED’s dividend payout ratio is currently 30.65%.

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.