CONMED Co. (NYSE:CNMD) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC reduced its stake in shares of CONMED Co. (NYSE:CNMD) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,642 shares of the company’s stock after selling 414 shares during the quarter. Bridge City Capital LLC owned 0.14% of CONMED worth $2,636,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Avity Investment Management Inc. raised its stake in CONMED by 36.9% during the first quarter. Avity Investment Management Inc. now owns 5,565 shares of the company’s stock valued at $336,000 after buying an additional 1,500 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CONMED by 10,855.1% during the 1st quarter. GAMMA Investing LLC now owns 79,534 shares of the company’s stock worth $4,803,000 after buying an additional 78,808 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CONMED by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 78,121 shares of the company’s stock worth $5,347,000 after purchasing an additional 11,059 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of CONMED in the fourth quarter valued at $849,000. Finally, Silvercrest Asset Management Group LLC bought a new position in shares of CONMED during the 4th quarter valued at about $68,489,000.

CONMED Price Performance

Shares of CNMD opened at $56.94 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. CONMED Co. has a twelve month low of $46.00 and a twelve month high of $78.19. The company has a 50 day moving average of $54.95 and a 200-day moving average of $62.71. The stock has a market capitalization of $1.76 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.83 and a beta of 1.24.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The business had revenue of $321.26 million for the quarter, compared to analyst estimates of $313.38 million. During the same quarter in the prior year, the business earned $0.79 EPS. CONMED’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Friday, June 13th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. CONMED’s dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling

In other CONMED news, Director Charles Farkas sold 4,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CNMD has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of CONMED from a “buy” rating to a “hold” rating and cut their target price for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC lowered their price objective on CONMED from $91.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.20.

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.