Graham Capital Management L.P. Purchases 518 Shares of CONMED Co. (NYSE:CNMD)

Graham Capital Management L.P. lifted its position in CONMED Co. (NYSE:CNMD) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,214 shares of the company’s stock after acquiring an additional 518 shares during the period. Graham Capital Management L.P.’s holdings in CONMED were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMI Asset Management Corp grew its stake in shares of CONMED by 41.5% in the 4th quarter. AMI Asset Management Corp now owns 20,470 shares of the company’s stock valued at $1,401,000 after purchasing an additional 6,008 shares during the period. Blue Trust Inc. grew its position in CONMED by 4.6% in the fourth quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after acquiring an additional 145 shares during the period. Pacer Advisors Inc. grew its position in CONMED by 41.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock valued at $113,000 after acquiring an additional 485 shares during the period. Epiq Partners LLC raised its stake in CONMED by 2.2% during the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock worth $952,000 after acquiring an additional 302 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of CONMED by 44.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 223,142 shares of the company’s stock valued at $15,029,000 after acquiring an additional 68,696 shares during the period.

CONMED Trading Up 1.8%

Shares of NYSE CNMD opened at $59.65 on Friday. CONMED Co. has a 1-year low of $46.00 and a 1-year high of $78.58. The company has a 50-day moving average of $55.79 and a two-hundred day moving average of $64.43. The company has a market cap of $1.85 billion, a PE ratio of 14.07, a P/E/G ratio of 1.83 and a beta of 1.19. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The firm had revenue of $321.26 million during the quarter, compared to analysts’ expectations of $313.38 million. During the same quarter in the previous year, the company posted $0.79 EPS. CONMED’s revenue was up 2.9% on a year-over-year basis. As a group, equities analysts expect that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. CONMED’s payout ratio is currently 21.05%.

Insider Activity

In related news, Director Charles Farkas sold 4,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the transaction, the director now directly owns 16,346 shares in the company, valued at $930,741.24. This represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CNMD shares. StockNews.com lowered shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Wells Fargo & Company decreased 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, May 1st. Needham & Company LLC cut their target price on shares of CONMED from $91.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut CONMED from a “buy” rating to a “hold” rating and dropped their price target for the company from $75.00 to $55.00 in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.