CONMED Co. (NYSE:CNMD) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in CONMED Co. (NYSE:CNMD) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,067 shares of the company’s stock after selling 34,496,933 shares during the quarter. Magnetar Financial LLC’s holdings in CONMED were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in shares of CONMED by 177.6% in the 3rd quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after buying an additional 10,187 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock valued at $27,431,000 after acquiring an additional 16,340 shares during the last quarter. Eagle Asset Management Inc. grew its position in CONMED by 17.0% in the third quarter. Eagle Asset Management Inc. now owns 127,556 shares of the company’s stock worth $9,366,000 after acquiring an additional 18,545 shares during the period. Fisher Asset Management LLC increased its stake in CONMED by 5.5% during the third quarter. Fisher Asset Management LLC now owns 295,290 shares of the company’s stock worth $21,237,000 after acquiring an additional 15,512 shares during the last quarter. Finally, Millrace Asset Group Inc. purchased a new stake in CONMED in the third quarter valued at $1,665,000.

CONMED Stock Up 1.1 %

Shares of CNMD opened at $59.63 on Monday. The company’s 50-day simple moving average is $64.58 and its 200-day simple moving average is $68.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a 1 year low of $55.22 and a 1 year high of $81.22. The stock has a market capitalization of $1.84 billion, a PE ratio of 14.06, a P/E/G ratio of 1.83 and a beta of 1.53.

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

CONMED Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.34%. CONMED’s payout ratio is 18.87%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNMD. JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC dropped their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.20.

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.