ArrowMark Colorado Holdings LLC Has $33.87 Million Position in CONMED Co. (NYSE:CNMD)

ArrowMark Colorado Holdings LLC trimmed its position in shares of CONMED Co. (NYSE:CNMD) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 494,897 shares of the company’s stock after selling 6,906 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 1.60% of CONMED worth $33,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNMD. Blue Trust Inc. boosted its position in CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock worth $235,000 after buying an additional 145 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock worth $221,000 after purchasing an additional 205 shares during the last quarter. Epiq Partners LLC increased its holdings in CONMED by 2.2% in the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after purchasing an additional 302 shares during the period. Smartleaf Asset Management LLC increased its holdings in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after purchasing an additional 322 shares during the period. Finally, GAMMA Investing LLC raised its position 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 purchasing an additional 351 shares during the last quarter.

CONMED Trading Up 0.6 %

CNMD opened at $57.52 on Friday. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58. 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 market cap of $1.78 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. The company has a fifty day moving average price of $56.10 and a two-hundred day moving average price of $64.78.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. During the same period last year, the business posted $0.79 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that CONMED Co. will post 4.35 EPS for the current fiscal year.

CONMED Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, March 14th. CONMED’s payout ratio is currently 18.87%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNMD. Needham & Company LLC decreased their price target on CONMED from $91.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus downgraded shares of CONMED from a “buy” rating to a “hold” rating and lowered their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, CONMED currently has an average rating of “Hold” and a consensus target price of $62.20.

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.