Integrated Investment Consultants LLC Raises Holdings in CONMED Corporation (NYSE:CNMD)

Integrated Investment Consultants LLC lifted its position in CONMED Corporation (NYSE:CNMD) by 60.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,894 shares of the company’s stock after acquiring an additional 1,839 shares during the quarter. Integrated Investment Consultants LLC’s holdings in CONMED were worth $296,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in shares of CONMED in the 1st quarter valued at approximately $202,000. Legato Capital Management LLC increased its stake in CONMED by 8.0% during the 1st quarter. Legato Capital Management LLC now owns 29,602 shares of the company’s stock valued at $1,788,000 after purchasing an additional 2,202 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in CONMED during the 1st quarter valued at approximately $320,000. Cooke & Bieler LP increased its stake in CONMED by 5.8% during the 1st quarter. Cooke & Bieler LP now owns 702,623 shares of the company’s stock valued at $42,431,000 after purchasing an additional 38,580 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of CONMED by 5.4% in the 1st quarter. Victory Capital Management Inc. now owns 15,799 shares of the company’s stock valued at $954,000 after acquiring an additional 815 shares during the period.

CONMED Stock Up 2.8%

CNMD stock opened at $50.93 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 13.40, a P/E/G ratio of 1.31 and a beta of 1.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.00 and a current ratio of 2.26. The firm’s fifty day moving average is $53.72 and its 200 day moving average is $58.08. CONMED Corporation has a one year low of $46.00 and a one year high of $78.19.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. CONMED had a return on equity of 14.36% and a net margin of 9.02%. The firm had revenue of $321.26 million for the quarter, compared to analysts’ expectations of $313.38 million. During the same period last year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that CONMED Corporation will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Friday, June 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.57%. CONMED’s dividend payout ratio is currently 21.05%.

Insider Transactions at CONMED

In other news, Director Charles Farkas sold 4,000 shares of CONMED stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the sale, the director owned 16,346 shares in the company, valued at $930,741.24. This trade represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNMD. Wells Fargo & Company cut their price target on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC downgraded CONMED from a “buy” rating to a “hold” rating and set a $61.00 price target on the stock. in a research report on Thursday, June 12th. Finally, Stifel Nicolaus lowered CONMED from a “buy” rating to a “hold” rating and dropped their target price for the stock from $75.00 to $55.00 in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, CONMED presently has an average rating of “Hold” and an average price target 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.