Tower Research Capital LLC TRC Increases Stock Holdings in CONMED Co. (NYSE:CNMD)

Tower Research Capital LLC TRC raised its stake in CONMED Co. (NYSE:CNMD) by 67.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,273 shares of the company’s stock after purchasing an additional 2,532 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CONMED were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after buying an additional 351 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of CONMED by 41.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after buying an additional 485 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of CONMED in the 4th quarter valued at approximately $210,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of CONMED by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock valued at $221,000 after buying an additional 205 shares during the period.

Wall Street Analyst Weigh In

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

CONMED Stock Down 4.4 %

Shares of NYSE:CNMD opened at $48.91 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $56.30 and a 200 day simple moving average of $64.88. The firm has a market cap of $1.51 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. CONMED Co. has a 12-month low of $46.00 and a 12-month high of $78.58.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. The firm had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. CONMED’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, equities research analysts anticipate that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, March 14th. CONMED’s payout ratio is 18.87%.

CONMED Company 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.