Russell Investments Group Ltd. Has $1.20 Million Holdings in CONMED Co. (NYSE:CNMD)

Russell Investments Group Ltd. decreased its position in CONMED Co. (NYSE:CNMD) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,517 shares of the company’s stock after selling 1,978 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of CONMED worth $1,199,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in CONMED by 93.6% in the 4th quarter. GAMMA Investing LLC now owns 726 shares of the company’s stock valued at $50,000 after acquiring an additional 351 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of CONMED by 41.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,656 shares of the company’s stock worth $113,000 after buying an additional 485 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in CONMED by 19.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after buying an additional 322 shares in the last quarter. CIBC Asset Management Inc bought a new position in CONMED in the 4th quarter valued at approximately $210,000. Finally, Blue Trust Inc. lifted its stake in shares of CONMED by 4.6% in the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after acquiring an additional 145 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNMD. JPMorgan Chase & Co. lowered CONMED from an “overweight” rating to a “neutral” rating and cut their price target for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Needham & Company LLC reduced their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price objective on shares of CONMED from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CONMED currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

CONMED Stock Up 1.0 %

CONMED stock opened at $48.53 on Monday. The firm has a 50 day moving average price of $58.36 and a two-hundred day moving average price of $65.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a 52-week low of $47.25 and a 52-week high of $78.58. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.83 and a beta of 1.28.

CONMED (NYSE:CNMD) last released its earnings results on Wednesday, February 5th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. CONMED had a net margin of 10.13% and a return on equity of 14.31%. Equities analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. CONMED’s payout ratio is currently 18.87%.

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.