CONMED Co. (NYSE:CNMD) Shares Bought by Marshall Wace LLP

Marshall Wace LLP grew its holdings in shares of CONMED Co. (NYSE:CNMD) by 42.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,415 shares of the company’s stock after purchasing an additional 22,326 shares during the period. Marshall Wace LLP owned 0.24% of CONMED worth $5,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of CONMED during the second quarter worth $39,000. Innealta Capital LLC acquired a new stake in shares of CONMED during the second quarter worth $41,000. Hilltop National Bank raised its holdings in shares of CONMED by 31.0% during the second quarter. Hilltop National Bank now owns 825 shares of the company’s stock worth $57,000 after purchasing an additional 195 shares during the period. CWM LLC increased its holdings in shares of CONMED by 224.7% in the 2nd quarter. CWM LLC now owns 919 shares of the company’s stock worth $64,000 after acquiring an additional 636 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in shares of CONMED by 70.6% in the 1st quarter. AdvisorNet Financial Inc now owns 1,800 shares of the company’s stock worth $144,000 after acquiring an additional 745 shares during the period.

CONMED Stock Performance

Shares of CNMD opened at $68.30 on Wednesday. The firm has a 50-day moving average price of $71.08 and a 200 day moving average price of $72.09. The firm has a market capitalization of $2.10 billion, a PE ratio of 26.17, a P/E/G ratio of 0.98 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 2.34 and a debt-to-equity ratio of 1.09. CONMED Co. has a 52-week low of $61.05 and a 52-week high of $117.27.

CONMED (NYSE:CNMD) last announced its earnings results on Wednesday, July 31st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. CONMED had a net margin of 7.73% and a return on equity of 13.89%. The firm had revenue of $332.10 million during the quarter, compared to analyst estimates of $334.39 million. During the same quarter in the prior year, the firm posted $0.83 EPS. CONMED’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that CONMED Co. will post 3.99 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. CONMED’s dividend payout ratio (DPR) is 30.65%.

Wall Street Analysts Forecast Growth

CNMD has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC dropped their price objective on shares of CONMED from $106.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. StockNews.com cut shares of CONMED from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler dropped their price objective on shares of CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, Stifel Nicolaus dropped their price objective on shares of CONMED from $88.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CONMED 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.