Tributary Capital Management LLC Acquires 61,060 Shares of CONMED Corporation $CNMD

Tributary Capital Management LLC boosted its holdings in CONMED Corporation (NYSE:CNMD) by 29.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,896 shares of the company’s stock after acquiring an additional 61,060 shares during the quarter. Tributary Capital Management LLC’s holdings in CONMED were worth $10,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CNMD. Kelleher Financial Advisors bought a new position in CONMED in the 3rd quarter worth about $28,000. Quarry LP increased its position in shares of CONMED by 244.8% during the 3rd quarter. Quarry LP now owns 869 shares of the company’s stock valued at $41,000 after purchasing an additional 617 shares during the last quarter. Huntington National Bank increased its position in shares of CONMED by 111.8% during the 3rd quarter. Huntington National Bank now owns 883 shares of the company’s stock valued at $42,000 after purchasing an additional 466 shares during the last quarter. State of Wyoming bought a new position in shares of CONMED during the 3rd quarter valued at about $52,000. Finally, CWM LLC increased its position in shares of CONMED by 114.7% during the 4th quarter. CWM LLC now owns 1,578 shares of the company’s stock valued at $64,000 after purchasing an additional 843 shares during the last quarter.

CONMED Trading Up 3.2%

NYSE CNMD opened at $39.11 on Friday. CONMED Corporation has a fifty-two week low of $33.21 and a fifty-two week high of $61.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 2.14. The stock has a 50 day simple moving average of $39.50 and a two-hundred day simple moving average of $41.63. The stock has a market cap of $1.18 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

CONMED (NYSE:CNMD) last released its quarterly earnings data on Wednesday, January 28th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.11. CONMED had a return on equity of 14.23% and a net margin of 3.42%.The business had revenue of $373.20 million during the quarter, compared to analysts’ expectations of $366.88 million. During the same quarter last year, the business posted $1.34 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that CONMED Corporation will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNMD. Wells Fargo & Company upgraded CONMED to a “hold” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded CONMED from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CONMED in a research report on Wednesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of CONMED in a research report on Thursday, January 29th. Finally, Zacks Research upgraded CONMED from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, CONMED has an average rating of “Reduce” and a consensus price target of $50.17.

CONMED Profile

CONMED Corporation (NYSE: CNMD) is a global medical technology company headquartered in Utica, New York. Founded in 1970, CONMED develops, manufactures and markets a broad portfolio of surgical devices and accessories for minimally invasive procedures. The company’s product line supports surgeons and healthcare providers in specialties including orthopedics, general surgery, gastroenterology and gynecology.

CONMED operates two principal segments: Orthopedics, and Visualization & Energy.