Olympiad Research LP Invests $340,000 in CONMED Co. (NYSE:CNMD)

Olympiad Research LP purchased a new position in shares of CONMED Co. (NYSE:CNMD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,972 shares of the company’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Confluence Investment Management LLC grew its holdings in shares of CONMED by 188.9% during the third quarter. Confluence Investment Management LLC now owns 146,942 shares of the company’s stock worth $10,568,000 after purchasing an additional 96,081 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of CONMED by 6.4% during the third quarter. Champlain Investment Partners LLC now owns 1,367,650 shares of the company’s stock worth $98,361,000 after purchasing an additional 81,970 shares during the last quarter. 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. Raymond James & Associates boosted its holdings in CONMED by 70.5% in the third quarter. Raymond James & Associates now owns 141,907 shares of the company’s stock valued at $10,206,000 after acquiring an additional 58,663 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in CONMED by 36.6% in the third quarter. Natixis Advisors LLC now owns 110,909 shares of the company’s stock valued at $7,977,000 after acquiring an additional 29,720 shares during the last quarter.

CONMED Price Performance

Shares of CNMD opened at $60.99 on Friday. CONMED Co. has a 52-week low of $59.50 and a 52-week high of $86.96. 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 business’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $69.77. 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 issued its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share 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, equities analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, December 20th. CONMED’s payout ratio is 18.87%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 6th. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $70.00 in a report on Thursday, February 6th. Finally, Needham & Company LLC dropped their price target on CONMED from $97.00 to $91.00 and set a “buy” rating on the stock 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 stock. According to data from MarketBeat.com, CONMED has a consensus rating of “Moderate Buy” and an average price target of $77.20.

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.