Epiq Partners LLC Boosts Stock Position in CONMED Co. (NYSE:CNMD)

Epiq Partners LLC raised its position in CONMED Co. (NYSE:CNMD) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,912 shares of the company’s stock after purchasing an additional 302 shares during the period. Epiq Partners LLC’s holdings in CONMED were worth $952,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CNMD. GAMMA Investing LLC lifted its position in CONMED by 93.6% during the fourth quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after buying an additional 351 shares during the period. CWM LLC increased its stake in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $90,000 after acquiring an additional 332 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after acquiring an additional 485 shares during the period. nVerses Capital LLC lifted its holdings in shares of CONMED by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the company’s stock worth $144,000 after acquiring an additional 1,700 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new stake in CONMED in the third quarter valued at approximately $206,000.

CONMED Stock Performance

NYSE:CNMD opened at $71.13 on Tuesday. The firm’s fifty day simple moving average is $70.87 and its 200 day simple moving average is $70.18. 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 Co. has a twelve month low of $61.05 and a twelve month high of $97.08. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.77 and a beta of 1.47.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.05 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 company had revenue of $316.70 million for the quarter, compared to analysts’ expectations of $318.46 million. As a group, equities research analysts expect that CONMED Co. will post 4.03 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 20th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is 19.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CNMD shares. Needham & Company LLC reiterated a “buy” rating and issued a $97.00 price target on shares of CONMED in a report on Thursday, October 31st. StockNews.com cut CONMED from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.80.

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.