Fisher Asset Management LLC Sells 25,487 Shares of CONMED Co. (NYSE:CNMD)

Fisher Asset Management LLC lowered its stake in shares of CONMED Co. (NYSE:CNMD) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,809 shares of the company’s stock after selling 25,487 shares during the quarter. Fisher Asset Management LLC owned about 0.90% of CONMED worth $30,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CNMD. Arizona State Retirement System grew its holdings in shares of CONMED by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 8,705 shares of the company’s stock worth $878,000 after purchasing an additional 121 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in CONMED by 4.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock valued at $312,000 after buying an additional 140 shares during the period. Bahl & Gaynor Inc. raised its position in shares of CONMED by 1.4% in the 4th quarter. Bahl & Gaynor Inc. now owns 15,434 shares of the company’s stock valued at $1,690,000 after buying an additional 207 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of CONMED by 1.5% in the 4th quarter. Yousif Capital Management LLC now owns 15,613 shares of the company’s stock valued at $1,710,000 after buying an additional 228 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of CONMED by 5.6% during the 4th quarter. Handelsbanken Fonder AB now owns 5,623 shares of the company’s stock worth $616,000 after acquiring an additional 300 shares during the period.

CONMED Price Performance

Shares of CNMD opened at $71.76 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.18 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.21 billion, a PE ratio of 27.49, a PEG ratio of 0.68 and a beta of 1.37. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $138.47. The business has a 50-day simple moving average of $76.85 and a two-hundred day simple moving average of $92.52.

CONMED (NYSE:CNMD) last released its quarterly earnings data 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. CONMED had a return on equity of 13.78% and a net margin of 6.53%. The company had revenue of $312.27 million during the quarter, compared to the consensus estimate of $307.06 million. Analysts anticipate that CONMED Co. will post 4.3 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.

Insider Buying and Selling

In related news, COO Pat Beyer bought 3,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average cost of $68.30 per share, with a total value of $204,900.00. Following the transaction, the chief operating officer now directly owns 10,807 shares in the company, valued at $738,118.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CNMD shares. Needham & Company LLC lowered their price objective on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on CONMED from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lowered their target price on CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.86.

CONMED Company 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.