Integrated Investment Consultants LLC Sells 1,812 Shares of CONMED Co. (NYSE:CNMD)

Integrated Investment Consultants LLC cut its holdings in shares of CONMED Co. (NYSE:CNMD) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,055 shares of the company’s stock after selling 1,812 shares during the quarter. Integrated Investment Consultants LLC’s holdings in CONMED were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CNMD. GAMMA Investing LLC increased its position in CONMED by 93.6% in the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares during the last quarter. CWM LLC grew its stake in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after acquiring an additional 332 shares during the period. nVerses Capital LLC increased its holdings in CONMED by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the last quarter. Federated Hermes Inc. bought a new stake in CONMED in the 2nd quarter valued at about $167,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in CONMED during the third quarter valued at about $206,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNMD. StockNews.com downgraded shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $97.00 target price on shares of CONMED in a report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

CONMED Stock Performance

NYSE CNMD opened at $67.75 on Friday. The company’s 50 day simple moving average is $71.29 and its two-hundred day simple moving average is $70.03. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.27 and a quick ratio of 1.06. CONMED Co. has a 1 year low of $61.05 and a 1 year high of $110.40. The stock has a market capitalization of $2.09 billion, a PE ratio of 16.09, a P/E/G ratio of 0.74 and a beta of 1.47.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $316.70 million for the quarter, compared to the consensus estimate of $318.46 million. CONMED had a return on equity of 13.84% and a net margin of 10.23%. Analysts predict that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were given a $0.20 dividend. 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 dividend payout ratio (DPR) is 19.00%.

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.