Bridge City Capital LLC Acquires 7,597 Shares of CONMED Co. (NYSE:CNMD)

Bridge City Capital LLC lifted its holdings in shares of CONMED Co. (NYSE:CNMD) by 20.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,056 shares of the company’s stock after acquiring an additional 7,597 shares during the period. Bridge City Capital LLC owned approximately 0.14% of CONMED worth $3,015,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of CONMED by 31.5% in the fourth quarter. Nordea Investment Management AB now owns 73,587 shares of the company’s stock valued at $5,141,000 after acquiring an additional 17,633 shares during the last quarter. Avity Investment Management Inc. acquired a new stake in CONMED during the 4th quarter valued at $278,000. Intech Investment Management LLC raised its position in CONMED by 177.6% in the 3rd 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 during the last quarter. Millrace Asset Group Inc. acquired a new position in CONMED in the third quarter worth $1,665,000. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 68,696 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC cut their price target on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Stifel Nicolaus upped their price objective on CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Stock Performance

Shares of CONMED stock opened at $59.63 on Friday. CONMED Co. has a 52 week low of $55.22 and a 52 week high of $81.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.83 and a beta of 1.53. The firm has a fifty day moving average of $64.58 and a two-hundred day moving average of $68.47.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 EPS for the quarter, beating 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%. As a group, equities research analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. 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 payout ratio is presently 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.