Avity Investment Management Inc. Takes Position in CONMED Co. (NYSE:CNMD)

Avity Investment Management Inc. bought a new position in CONMED Co. (NYSE:CNMD) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,065 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CNMD. Earnest Partners LLC lifted its position in shares of CONMED by 18.9% during the 2nd quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock valued at $195,386,000 after buying an additional 447,498 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in CONMED by 86.7% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock valued at $43,759,000 after purchasing an additional 293,099 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of CONMED by 188.9% in the third quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock worth $10,568,000 after buying an additional 96,081 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after purchasing an additional 81,970 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of CONMED by 23.4% in the second quarter. Clearbridge Investments LLC now owns 421,465 shares of the company’s stock worth $29,216,000 after buying an additional 80,025 shares in the last quarter.

CONMED Price Performance

Shares of NYSE CNMD opened at $67.59 on Wednesday. The firm has a market cap of $2.09 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.94 and a beta of 1.47. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $111.10. The business’s 50 day moving average price is $71.85 and its 200 day moving average price is $70.05. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $316.70 million during the quarter, compared to analysts’ expectations of $318.46 million. CONMED had a net margin of 10.23% and a return on equity of 13.84%. On average, sell-side analysts expect that CONMED Co. will post 4.03 earnings per share for the current year.

CONMED Dividend Announcement

The company 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. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s payout ratio is 19.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CNMD shares. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, CONMED has an average rating of “Moderate Buy” and an average target price of $79.80.

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.