New York State Common Retirement Fund Boosts Position in CONMED Co. (NYSE:CNMD)

New York State Common Retirement Fund grew its holdings in CONMED Co. (NYSE:CNMD) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 192,392 shares of the company’s stock after purchasing an additional 1,143 shares during the period. New York State Common Retirement Fund’s holdings in CONMED were worth $13,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after acquiring an additional 145 shares during the period. HighTower Advisors LLC lifted its stake in shares of CONMED by 4.1% in the 3rd quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock valued at $512,000 after purchasing an additional 275 shares during the period. QRG Capital Management Inc. boosted its holdings in CONMED by 5.0% during the third quarter. QRG Capital Management Inc. now owns 5,827 shares of the company’s stock worth $419,000 after buying an additional 280 shares in the last quarter. Epiq Partners LLC boosted its holdings in CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after buying an additional 302 shares in the last quarter. Finally, CWM LLC grew its position in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after buying an additional 332 shares during the period.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNMD. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $70.00 in a research report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC decreased 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. Finally, Wells Fargo & Company cut their price target 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, CONMED currently has an average rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Price Performance

NYSE:CNMD opened at $60.99 on Monday. The stock has a 50 day moving average of $68.30 and a two-hundred day moving average of $69.79. CONMED Co. has a 12 month low of $59.50 and a 12 month high of $86.96. The firm has a market cap of $1.89 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. On average, analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio is currently 18.87%.

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.