Peregrine Capital Management LLC Acquires 1,750 Shares of CONMED Co. (NYSE:CNMD)

Peregrine Capital Management LLC lifted its holdings in shares of CONMED Co. (NYSE:CNMD) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 99,601 shares of the company’s stock after purchasing an additional 1,750 shares during the period. Peregrine Capital Management LLC’s holdings in CONMED were worth $6,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in CONMED by 93.6% during the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock worth $50,000 after acquiring an additional 351 shares during the period. CWM LLC grew its holdings in shares of CONMED by 36.1% during the 3rd quarter. CWM LLC now owns 1,251 shares of the company’s stock worth $90,000 after purchasing an additional 332 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after purchasing an additional 485 shares during the period. CIBC Asset Management Inc acquired a new position in CONMED in the fourth quarter valued at about $210,000. Finally, Blue Trust Inc. lifted its position in CONMED by 26.5% during the third quarter. Blue Trust Inc. now owns 3,121 shares of the company’s stock worth $216,000 after purchasing an additional 653 shares during the period.

CONMED Trading Down 0.5 %

NYSE CNMD opened at $62.86 on Wednesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $86.96. 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 fifty day moving average is $68.96 and its 200 day moving average is $69.88.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 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, sell-side analysts expect that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently declared 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 1.27%. The ex-dividend date was Friday, December 20th. CONMED’s dividend payout ratio (DPR) is currently 18.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNMD. Stifel Nicolaus boosted their target price on shares of CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $70.00 in a research report on Thursday, February 6th. 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. Needham & Company LLC lowered their price target on CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus target price 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.