bLong Financial LLC Invests $226,000 in CONMED Co. (NYSE:CNMD)

bLong Financial LLC purchased a new position in shares of CONMED Co. (NYSE:CNMD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after purchasing an additional 145 shares during the period. HighTower Advisors LLC grew its holdings in shares of CONMED by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after purchasing an additional 275 shares during the period. QRG Capital Management Inc. grew its holdings in shares of CONMED by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after purchasing an additional 280 shares during the period. Epiq Partners LLC grew its holdings in shares of CONMED by 2.2% during the 4th quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after purchasing an additional 302 shares during the period. Finally, CWM LLC boosted its holdings in CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after acquiring an additional 332 shares during the period.

CONMED Stock Performance

Shares of CNMD opened at $63.05 on Friday. The stock has a 50-day simple moving average of $69.43 and a 200-day simple moving average of $69.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.06 and a current ratio of 2.27. The stock has a market capitalization of $1.95 billion, a PE ratio of 14.87, a PEG ratio of 1.05 and a beta of 1.46. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $86.96.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. On average, analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Upgrades and Downgrades

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

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.