bLong Financial LLC Invests $226,000 in CONMED Co. (NYSE:CNMD)

bLong Financial LLC purchased a new position in shares of CONMED Co. (NYSE:CNMD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,300 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in CONMED by 4.6% during the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares during the period. HighTower Advisors LLC increased its position in CONMED by 4.1% during the third quarter. HighTower Advisors LLC now owns 7,056 shares of the company’s stock worth $512,000 after buying an additional 275 shares during the period. QRG Capital Management Inc. increased its position 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 during the period. Epiq Partners LLC increased its position 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 during the period. Finally, CWM LLC increased its position in CONMED by 36.1% during the third quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after buying an additional 332 shares during the period.

CONMED Stock Down 2.1 %

CONMED stock opened at $63.05 on Friday. 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 $86.96. The company has a market cap of $1.95 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The stock’s 50 day moving average price is $69.43 and its 200 day moving average price is $69.93.

CONMED (NYSE:CNMD) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. On average, sell-side analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 20th were paid a $0.20 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. CONMED’s dividend payout ratio (DPR) is presently 18.87%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNMD. Stifel Nicolaus lifted their price target on 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 dropped their target price on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company dropped their target price on CONMED from $74.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Company 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.