4,972 Shares in CONMED Co. (NYSE:CNMD) Bought by Olympiad Research LP

Olympiad Research LP purchased a new position in shares of CONMED Co. (NYSE:CNMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 4,972 shares of the company’s stock, valued at approximately $340,000.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its holdings in CONMED by 31.5% during the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock worth $5,141,000 after buying an additional 17,633 shares in the last quarter. Avity Investment Management Inc. bought a new stake in CONMED during the fourth quarter worth $278,000. Intech Investment Management LLC grew its holdings in CONMED by 177.6% during the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock worth $1,145,000 after buying an additional 10,187 shares in the last quarter. Millrace Asset Group Inc. bought a new stake in CONMED during the third quarter worth $1,665,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in CONMED by 44.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock worth $15,029,000 after buying an additional 68,696 shares in the last quarter.

CONMED Stock Down 0.5 %

CNMD stock opened at $60.99 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.83 and a beta of 1.46. CONMED Co. has a fifty-two week low of $59.50 and a fifty-two week high of $86.96. The stock has a fifty day moving average of $68.30 and a 200-day moving average of $69.77.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, equities research analysts predict that CONMED Co. will post 4.35 earnings per share for the current year.

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s payout ratio is presently 18.87%.

Analysts Set New Price Targets

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

About CONMED

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.