Legato Capital Management LLC Purchases 7,997 Shares of CONMED Co. (NYSE:CNMD)

Legato Capital Management LLC lifted its position in CONMED Co. (NYSE:CNMD) by 41.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,400 shares of the company’s stock after buying an additional 7,997 shares during the quarter. Legato Capital Management LLC owned about 0.09% of CONMED worth $1,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNMD. Creative Planning grew its stake in shares of CONMED by 83.6% in the second quarter. Creative Planning now owns 7,136 shares of the company’s stock valued at $495,000 after buying an additional 3,250 shares in the last quarter. CWM LLC lifted its holdings in 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 purchasing an additional 332 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of CONMED by 3.7% during the third quarter. Exchange Traded Concepts LLC now owns 9,345 shares of the company’s stock worth $672,000 after buying an additional 333 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of CONMED during the third quarter worth $3,200,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in shares of CONMED during the third quarter worth $206,000.

CONMED Stock Performance

CONMED stock opened at $65.04 on Wednesday. CONMED Co. has a 12-month low of $61.05 and a 12-month high of $88.60. The company has a quick ratio of 1.06, a current ratio of 2.27 and a debt-to-equity ratio of 1.01. The business’s 50-day moving average price is $70.01 and its two-hundred day moving average price is $70.07. The stock has a market cap of $2.01 billion, a PE ratio of 15.34, a P/E/G ratio of 1.05 and a beta of 1.46.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.60% and a net margin of 10.13%. As a group, analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 20th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNMD. StockNews.com downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target 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. Stifel Nicolaus boosted their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. downgraded CONMED from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $70.00 in a research note 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 for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently 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.