MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 664 Shares of CONMED Co. (NYSE:CNMD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CONMED Co. (NYSE:CNMD) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,554 shares of the company’s stock after purchasing an additional 664 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of CONMED worth $1,201,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CNMD. Gotham Asset Management LLC bought a new stake in shares of CONMED in the fourth quarter valued at about $313,000. Graham Capital Management L.P. raised its position in CONMED by 7.7% in the 4th quarter. Graham Capital Management L.P. now owns 7,214 shares of the company’s stock valued at $494,000 after buying an additional 518 shares during the last quarter. Deutsche Bank AG lifted its stake in CONMED by 47.6% in the 4th quarter. Deutsche Bank AG now owns 29,261 shares of the company’s stock valued at $2,003,000 after acquiring an additional 9,442 shares in the last quarter. Dean Capital Management lifted its stake in CONMED by 64.4% in the 4th quarter. Dean Capital Management now owns 25,575 shares of the company’s stock valued at $1,750,000 after acquiring an additional 10,019 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its position in CONMED by 178.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 12,740 shares of the company’s stock worth $872,000 after acquiring an additional 8,162 shares during the last quarter.

Insiders Place Their Bets

In other CONMED news, Director Charles Farkas sold 4,000 shares of the stock in a transaction 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 transaction, the director now owns 16,346 shares in the company, valued at $930,741.24. This trade represents a 19.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

CONMED Stock Performance

Shares of NYSE CNMD opened at $55.38 on Monday. 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 company has a market capitalization of $1.71 billion, a P/E ratio of 13.06, a P/E/G 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. The stock has a 50 day moving average of $55.56 and a 200-day moving average of $63.83.

CONMED (NYSE:CNMD) last released its quarterly earnings data 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 analysts’ expectations of $313.38 million. CONMED had a net margin of 10.13% and a return on equity of 14.31%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, equities research analysts predict that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 annualized dividend and a yield of 1.44%. CONMED’s dividend payout ratio is currently 21.05%.

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.