Bridge City Capital LLC Has $3.02 Million Stock Position in CONMED Co. (NYSE:CNMD)

Bridge City Capital LLC grew its stake in CONMED Co. (NYSE:CNMD) by 20.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 44,056 shares of the company’s stock after buying an additional 7,597 shares during the quarter. Bridge City Capital LLC’s holdings in CONMED were worth $3,015,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CNMD. Nordea Investment Management AB boosted its stake in CONMED by 31.5% in the 4th quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock worth $5,141,000 after purchasing an additional 17,633 shares during the period. Avity Investment Management Inc. acquired a new stake in shares of CONMED in the 4th quarter valued at about $278,000. Intech Investment Management LLC lifted its holdings in shares of CONMED by 177.6% in the third quarter. Intech Investment Management LLC now owns 15,922 shares of the company’s stock valued at $1,145,000 after purchasing an additional 10,187 shares in the last quarter. Millrace Asset Group Inc. acquired a new position in shares of CONMED during the third quarter worth about $1,665,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CONMED by 44.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock worth $15,029,000 after buying an additional 68,696 shares during the period.

Analyst Ratings Changes

Several equities research analysts have commented on CNMD shares. Wells Fargo & Company cut their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC decreased their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. lowered shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Price Performance

Shares of CNMD opened at $59.63 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The company’s fifty day simple moving average is $64.58 and its 200 day simple moving average is $68.47. CONMED Co. has a 1-year low of $55.22 and a 1-year high of $81.22. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.83 and a beta of 1.53.

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

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, March 14th. CONMED’s dividend payout ratio is 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.