Knights of Columbus Asset Advisors LLC Has $5.02 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Knights of Columbus Asset Advisors LLC grew its position in CONMED Co. (NYSE:CNMD) by 144.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,850 shares of the company’s stock after purchasing an additional 27,060 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.15% of CONMED worth $5,021,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CNMD. Belpointe Asset Management LLC grew its holdings in CONMED by 586.7% in the 1st quarter. Belpointe Asset Management LLC now owns 309 shares of the company’s stock valued at $32,000 after buying an additional 264 shares during the last quarter. Headlands Technologies LLC bought a new position in CONMED during the third quarter worth $64,000. Tower Research Capital LLC TRC increased its position in CONMED by 712.8% during the first quarter. Tower Research Capital LLC TRC now owns 764 shares of the company’s stock worth $79,000 after acquiring an additional 670 shares during the period. AdvisorNet Financial Inc increased its position in CONMED by 30.7% during the third quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company’s stock worth $106,000 after acquiring an additional 248 shares during the period. Finally, Raymond James Trust N.A. acquired a new position in CONMED during the 2nd quarter valued at $202,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNMD shares. JPMorgan Chase & Co. cut their price objective on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Piper Sandler lowered their price objective on CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Needham & Company LLC upped their target price on CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company decreased their price target on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.43.

CONMED Trading Up 2.2 %

Shares of CNMD opened at $72.65 on Friday. The company has a current ratio of 1.98, a quick ratio of 0.96 and a debt-to-equity ratio of 1.17. The stock has a market cap of $2.24 billion, a PE ratio of 35.61, a PEG ratio of 0.64 and a beta of 1.33. CONMED Co. has a 1 year low of $70.57 and a 1 year high of $138.47. The stock has a 50 day simple moving average of $79.63 and a 200-day simple moving average of $94.47.

CONMED (NYSE:CNMD) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The company had revenue of $327.05 million during the quarter, compared to the consensus estimate of $332.94 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. On average, sell-side analysts predict that CONMED Co. will post 4.34 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio (DPR) is currently 39.22%.

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.