Nisa Investment Advisors LLC Sells 1,735 Shares of CONMED Co. (NYSE:CNMD)

Nisa Investment Advisors LLC decreased its holdings in CONMED Co. (NYSE:CNMD) by 15.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,379 shares of the company’s stock after selling 1,735 shares during the period. Nisa Investment Advisors LLC’s holdings in CONMED were worth $1,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Belpointe Asset Management LLC grew its stake in CONMED by 586.7% in the 1st quarter. Belpointe Asset Management LLC now owns 309 shares of the company’s stock valued at $32,000 after buying an additional 264 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of CONMED in the third quarter worth $64,000. Tower Research Capital LLC TRC grew its position in shares of CONMED by 712.8% in the first quarter. Tower Research Capital LLC TRC now owns 764 shares of the company’s stock valued at $79,000 after purchasing an additional 670 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of CONMED by 30.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,055 shares of the company’s stock valued at $106,000 after purchasing an additional 248 shares during the period. Finally, Ronald Blue Trust Inc. lifted its holdings in CONMED by 445.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,506 shares of the company’s stock worth $152,000 after purchasing an additional 1,230 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on CNMD shares. Wells Fargo & Company reduced their target price on CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, February 1st. Needham & Company LLC upped their target price on shares of CONMED from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. cut their price target on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Finally, Piper Sandler decreased their price target on shares of CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.43.

CONMED Price Performance

CNMD stock opened at $75.21 on Tuesday. The firm has a 50 day simple moving average of $80.51 and a two-hundred day simple moving average of $95.14. The stock has a market cap of $2.32 billion, a PE ratio of 36.87, a P/E/G ratio of 0.68 and a beta of 1.33. CONMED Co. has a one year low of $73.88 and a one year high of $138.47. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The company had revenue of $327.05 million for the quarter, compared to the consensus estimate of $332.94 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. On average, analysts predict that CONMED Co. will post 4.34 EPS for the current fiscal year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. CONMED’s dividend payout ratio (DPR) is presently 39.22%.

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.