CONMED Co. (NYSE:CNMD) Shares Sold by Barclays PLC

Barclays PLC lowered its holdings in CONMED Co. (NYSE:CNMD) by 88.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,312 shares of the company’s stock after selling 1,947,475 shares during the period. Barclays PLC owned about 0.85% of CONMED worth $17,951,000 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. grew its position 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 buying an additional 44,777 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 acquiring an additional 8,274 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of CONMED by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock worth $42,780,000 after acquiring an additional 4,343 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of CONMED by 9.4% during the fourth quarter. Clearbridge Investments LLC now owns 542,966 shares of the company’s stock worth $37,161,000 after purchasing an additional 46,582 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of CONMED by 41.4% in the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after purchasing an additional 122,140 shares during the period.

Analyst Upgrades and Downgrades

CNMD has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $70.00 in a report on Thursday, February 6th. Needham & Company LLC cut their price target 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. Stifel Nicolaus raised their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, 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 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Stock Performance

CNMD stock opened at $48.53 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.83 and a beta of 1.28. 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 firm has a 50 day simple moving average of $58.36 and a 200 day simple moving average of $65.69. CONMED Co. has a 52 week low of $47.25 and a 52 week high of $78.58.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Friday, March 14th. CONMED’s dividend payout ratio (DPR) is presently 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.