Knights of Columbus Asset Advisors LLC Has $5.02 Million Stake in CONMED Co. (NYSE:CNMD)

Knights of Columbus Asset Advisors LLC grew its holdings in shares of CONMED Co. (NYSE:CNMD) by 144.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,850 shares of the company’s stock after acquiring an additional 27,060 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in CONMED were worth $5,021,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CNMD. Xponance Inc. acquired a new stake in CONMED during the fourth quarter worth approximately $204,000. Strs Ohio boosted its holdings in shares of CONMED by 5.2% during the 4th quarter. Strs Ohio now owns 64,791 shares of the company’s stock worth $7,095,000 after buying an additional 3,200 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of CONMED during the 4th quarter worth approximately $1,686,000. Mutual of America Capital Management LLC increased its stake in shares of CONMED by 9.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 35,817 shares of the company’s stock valued at $3,922,000 after acquiring an additional 3,145 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of CONMED during the 4th quarter valued at $4,282,000.

CONMED Price Performance

Shares of NYSE CNMD opened at $72.65 on Friday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. CONMED Co. has a fifty-two week low of $70.57 and a fifty-two week high of $138.47. The firm’s 50-day simple moving average is $79.63 and its 200 day simple moving average is $94.47.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.05). CONMED had a return on equity of 13.69% and a net margin of 5.18%. The company had revenue of $327.05 million during the quarter, compared to analysts’ expectations of $332.94 million. As a group, research analysts anticipate that CONMED Co. will post 4.34 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. CONMED’s payout ratio is 39.22%.

Wall Street Analysts Forecast Growth

CNMD has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. reduced their target price on CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Needham & Company LLC upped their price target on CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Piper Sandler reduced their price objective on CONMED from $130.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.43.

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.