New York State Common Retirement Fund Acquires 1,143 Shares of CONMED Co. (NYSE:CNMD)

New York State Common Retirement Fund lifted its holdings in CONMED Co. (NYSE:CNMD) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,392 shares of the company’s stock after acquiring an additional 1,143 shares during the period. New York State Common Retirement Fund owned 0.62% of CONMED worth $13,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC lifted its holdings in shares of CONMED by 6.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after acquiring an additional 81,970 shares during the last quarter. Geode Capital Management LLC raised its position in CONMED by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 693,400 shares of the company’s stock worth $49,879,000 after purchasing an additional 8,274 shares during the period. Principal Financial Group Inc. boosted its position in shares of CONMED by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 625,058 shares of the company’s stock valued at $42,780,000 after buying an additional 4,343 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of CONMED by 0.8% during the third quarter. ArrowMark Colorado Holdings LLC now owns 501,803 shares of the company’s stock valued at $36,090,000 after buying an additional 4,032 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CONMED by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,413 shares of the company’s stock worth $27,431,000 after buying an additional 16,340 shares during the period.

CONMED Stock Down 0.5 %

NYSE:CNMD opened at $60.99 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.30 and a quick ratio of 1.06. CONMED Co. has a 1-year low of $59.50 and a 1-year high of $86.96. The company has a 50-day moving average of $68.30 and a 200 day moving average of $69.79. The firm has a market cap of $1.89 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.46.

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

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued 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 1.31%. CONMED’s dividend payout ratio is presently 18.87%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC cut their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $70.00 in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, CONMED has a consensus 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.