PDT Partners LLC Sells 13,579 Shares of CONMED Co. (NYSE:CNMD)

PDT Partners LLC decreased its stake in shares of CONMED Co. (NYSE:CNMD) by 28.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,698 shares of the company’s stock after selling 13,579 shares during the period. PDT Partners LLC owned 0.11% of CONMED worth $2,306,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CONMED by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,574,420 shares of the company’s stock worth $244,633,000 after purchasing an additional 44,777 shares during the last quarter. Earnest Partners LLC boosted its position in shares of CONMED by 0.9% in the fourth quarter. Earnest Partners LLC now owns 2,810,176 shares of the company’s stock valued at $192,328,000 after acquiring an additional 25,876 shares during the period. Capital Research Global Investors increased its position in CONMED by 2.1% during the fourth quarter. Capital Research Global Investors now owns 1,577,172 shares of the company’s stock worth $107,942,000 after acquiring an additional 32,630 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in CONMED in the 4th quarter worth about $59,046,000. Finally, Dimensional Fund Advisors LP grew its position in shares of CONMED by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 775,440 shares of the company’s stock worth $53,073,000 after purchasing an additional 57,149 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNMD shares. JPMorgan Chase & Co. cut CONMED from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC cut their price target on shares of CONMED from $97.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut shares of CONMED from a “buy” rating to a “hold” rating and decreased their price objective for the company from $75.00 to $55.00 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.20.

CONMED Trading Up 0.5 %

Shares of CNMD stock opened at $51.11 on Wednesday. CONMED Co. has a twelve month low of $46.00 and a twelve month high of $78.58. The stock’s fifty day simple moving average is $56.54 and its 200 day simple moving average is $64.99. The company has a quick ratio of 1.06, a current ratio of 2.30 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.58 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, sell-side analysts predict 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, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 14th. CONMED’s payout ratio is currently 18.87%.

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.