CONMED Co. (NYSE:CNMD) Short Interest Up 9.4% in January

CONMED Co. (NYSE:CNMD) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,550,000 shares, an increase of 9.4% from the January 15th total of 2,330,000 shares. Based on an average daily trading volume, of 431,000 shares, the short-interest ratio is currently 5.9 days.

Hedge Funds Weigh In On CONMED

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after buying an additional 351 shares during the period. Aquatic Capital Management LLC bought a new position in CONMED during the fourth quarter valued at about $82,000. CWM LLC grew its position in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares during the period. Pacer Advisors Inc. grew its position in CONMED by 41.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after buying an additional 485 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in CONMED by 19.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the period.

CONMED Stock Down 2.1 %

Shares of NYSE CNMD traded down $1.32 during trading on Friday, hitting $63.05. The stock had a trading volume of 467,955 shares, compared to its average volume of 463,932. CONMED has a 12 month low of $61.05 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. The company 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. The firm has a fifty day moving average of $69.43 and a two-hundred day moving average of $69.93.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.60%. As a group, equities research analysts forecast that CONMED will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.80 annualized dividend and a yield of 1.27%. CONMED’s payout ratio is currently 18.87%.

Analysts Set New Price Targets

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