Osterweis Capital Management Inc. Purchases 90,505 Shares of CONMED Co. (NYSE:CNMD)

Osterweis Capital Management Inc. grew its position in CONMED Co. (NYSE:CNMD) by 93.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,970 shares of the company’s stock after buying an additional 90,505 shares during the quarter. Osterweis Capital Management Inc. owned 0.61% of CONMED worth $12,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in CONMED by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company’s stock worth $244,633,000 after acquiring an additional 44,777 shares during the period. Geode Capital Management LLC lifted its position in shares of CONMED by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock worth $49,879,000 after purchasing an additional 8,274 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CONMED by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock valued at $42,780,000 after purchasing an additional 4,343 shares in the last quarter. Clearbridge Investments LLC increased its holdings in CONMED by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 542,966 shares of the company’s stock valued at $37,161,000 after buying an additional 46,582 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in CONMED by 41.4% during the fourth quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after buying an additional 122,140 shares during the period.

Wall Street Analyst Weigh In

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

CONMED Trading Down 0.8 %

Shares of NYSE:CNMD opened at $48.09 on Thursday. The business’s 50-day moving average is $59.07 and its 200 day moving average is $66.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a 1 year low of $47.25 and a 1 year high of $78.58. The firm has a market capitalization of $1.49 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last posted 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 net margin of 10.13% and a return on equity of 14.31%. On average, research analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.66%. CONMED’s dividend payout ratio is currently 18.87%.

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.