Xponance Inc. Makes New $204,000 Investment in CONMED Co. (NYSE:CNMD)

Xponance Inc. bought a new position in CONMED Co. (NYSE:CNMD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,862 shares of the company’s stock, valued at approximately $204,000.

Several other large investors also recently added to or reduced their stakes in the business. Earnest Partners LLC grew its position in CONMED by 2.0% in the third quarter. Earnest Partners LLC now owns 2,265,092 shares of the company’s stock worth $228,435,000 after acquiring an additional 44,076 shares in the last quarter. Northern Trust Corp raised its stake in CONMED by 0.3% during the 3rd quarter. Northern Trust Corp now owns 339,332 shares of the company’s stock valued at $34,222,000 after purchasing an additional 1,115 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in CONMED by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,136 shares of the company’s stock valued at $30,773,000 after purchasing an additional 9,664 shares during the last quarter. Congress Asset Management Co. MA raised its stake in CONMED by 32.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 278,187 shares of the company’s stock valued at $28,055,000 after purchasing an additional 67,866 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in CONMED by 10.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 249,371 shares of the company’s stock valued at $25,149,000 after purchasing an additional 23,540 shares during the last quarter.

CONMED Stock Up 6.3 %

CNMD opened at $65.78 on Monday. The firm’s 50-day simple moving average is $78.06 and its 200-day simple moving average is $93.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.96 and a current ratio of 1.98. CONMED Co. has a twelve month low of $61.05 and a twelve month high of $138.47. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.60 and a beta of 1.33.

CONMED (NYSE:CNMD) last posted its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. CONMED had a net margin of 6.53% and a return on equity of 13.99%. The business had revenue of $312.27 million for the quarter, compared to analyst estimates of $307.06 million. Equities research analysts anticipate that CONMED Co. will post 4.3 EPS for the current fiscal year.

CONMED Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, March 14th. CONMED’s dividend payout ratio is currently 30.65%.

Analysts Set New Price Targets

Several research firms recently commented on CNMD. Needham & Company LLC cut their target price on shares of CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler dropped their price objective on shares of CONMED from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of CONMED from $98.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CONMED from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.86.

CONMED Company Profile

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.