CONMED Co. (NYSE:CNMD) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its position in CONMED Co. (NYSE:CNMD) by 47.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,261 shares of the company’s stock after acquiring an additional 9,442 shares during the period. Deutsche Bank AG owned 0.09% of CONMED worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CNMD. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of CONMED in the fourth quarter worth approximately $59,046,000. Neuberger Berman Group LLC acquired a new stake in shares of CONMED in the fourth quarter worth approximately $21,395,000. Raymond James Financial Inc. acquired a new stake in shares of CONMED in the fourth quarter worth approximately $18,248,000. Fisher Asset Management LLC grew its stake in CONMED by 41.4% during the 4th quarter. Fisher Asset Management LLC now owns 417,430 shares of the company’s stock valued at $28,569,000 after acquiring an additional 122,140 shares in the last quarter. Finally, Natixis grew its stake in CONMED by 1,069.2% during the 4th quarter. Natixis now owns 114,000 shares of the company’s stock valued at $7,802,000 after acquiring an additional 104,250 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNMD. Stifel Nicolaus cut shares of CONMED from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of CONMED from $70.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC cut their target price on CONMED from $91.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.20.

Insider Activity

In related news, Director Charles Farkas sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $56.94, for a total transaction of $227,760.00. Following the completion of the sale, the director now owns 16,346 shares in the company, valued at $930,741.24. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

CONMED Stock Down 1.2%

CNMD stock opened at $55.38 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of 13.06, a PEG ratio of 1.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. The firm’s 50 day moving average price is $55.56 and its 200-day moving average price is $63.99. CONMED Co. has a one year low of $46.00 and a one year high of $78.58.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.81 by $0.14. The business had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a return on equity of 14.31% and a net margin of 10.13%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.79 earnings per share. On average, equities research analysts anticipate that CONMED Co. will post 4.35 EPS for the current year.

CONMED Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%. CONMED’s payout ratio is 21.05%.

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.