Gotham Asset Management LLC Makes New $313,000 Investment in CONMED Co. (NYSE:CNMD)

Gotham Asset Management LLC purchased a new position in shares of CONMED Co. (NYSE:CNMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,570 shares of the company’s stock, valued at approximately $313,000.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of CONMED by 4.6% during the 4th quarter. Blue Trust Inc. now owns 3,266 shares of the company’s stock valued at $235,000 after buying an additional 145 shares during the period. Beverly Hills Private Wealth LLC raised its position in CONMED by 4.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock valued at $257,000 after purchasing an additional 168 shares during the period. Summit Investment Advisors Inc. raised its position in CONMED by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,228 shares of the company’s stock valued at $221,000 after purchasing an additional 205 shares during the period. Epiq Partners LLC raised its position in CONMED by 2.2% in the fourth quarter. Epiq Partners LLC now owns 13,912 shares of the company’s stock valued at $952,000 after purchasing an additional 302 shares during the period. Finally, Smartleaf Asset Management LLC raised its position 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 purchasing an additional 322 shares during the period.

Insider Buying and Selling at CONMED

In other CONMED news, Director Charles Farkas sold 4,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $56.94, for a total value of $227,760.00. Following the completion of the transaction, the director now directly owns 16,346 shares of the company’s stock, valued at approximately $930,741.24. This trade represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

CONMED Stock Performance

Shares of CNMD stock opened at $59.86 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average price of $55.80 and a 200 day moving average price of $64.26. The company has a market cap of $1.85 billion, a P/E ratio of 14.12, a PEG ratio of 1.83 and a beta of 1.19. CONMED Co. has a 12 month low of $46.00 and a 12 month high of $78.58.

CONMED (NYSE:CNMD) last issued its earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The firm had revenue of $321.26 million during the quarter, compared to the consensus estimate of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts predict that CONMED Co. will post 4.35 earnings per share for the current fiscal year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.34%. CONMED’s dividend payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

CNMD has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC cut their price objective on CONMED from $91.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered CONMED from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $55.00 in a research report on Monday, April 28th. Finally, StockNews.com lowered CONMED from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.20.

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.