CONMED Co. (NYSE:CNMD) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its position in CONMED Co. (NYSE:CNMD) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,760 shares of the company’s stock after acquiring an additional 3,155 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.16% of CONMED worth $3,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in CONMED in the second quarter worth $39,000. Innealta Capital LLC bought a new position in shares of CONMED in the 2nd quarter worth about $41,000. CWM LLC boosted its holdings in shares of CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock valued at $64,000 after buying an additional 636 shares during the period. nVerses Capital LLC grew its position in shares of CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock valued at $144,000 after buying an additional 1,700 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in CONMED during the second quarter worth about $167,000.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNMD. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a research note on Thursday, October 31st. StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CONMED presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CONMED Price Performance

NYSE CNMD opened at $72.55 on Monday. The company has a 50-day moving average price of $69.90 and a two-hundred day moving average price of $70.45. CONMED Co. has a 52 week low of $61.05 and a 52 week high of $117.27. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The company has a current ratio of 2.27, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. CONMED had a return on equity of 13.84% and a net margin of 10.23%. The business had revenue of $316.70 million during the quarter, compared to analyst estimates of $318.46 million. Analysts forecast that CONMED Co. will post 4.03 EPS for the current year.

CONMED Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, December 20th. CONMED’s dividend payout ratio (DPR) is 19.00%.

CONMED 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.