Yousif Capital Management LLC Has $702,000 Position in CONMED Corporation (NYSE:CNMD)

Yousif Capital Management LLC decreased its stake in CONMED Corporation (NYSE:CNMD) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,619 shares of the company’s stock after selling 298 shares during the period. Yousif Capital Management LLC’s holdings in CONMED were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its position in shares of CONMED by 4.7% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 3,762 shares of the company’s stock worth $257,000 after buying an additional 168 shares during the period. Summit Investment Advisors Inc. boosted its stake 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 acquiring an additional 205 shares during the last quarter. Blue Trust Inc. increased its position in CONMED by 10.2% in the fourth quarter. Blue Trust Inc. now owns 3,438 shares of the company’s stock worth $235,000 after buying an additional 317 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in CONMED by 19.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock valued at $136,000 after acquiring an additional 322 shares during the period. Finally, Swiss National Bank boosted its holdings in CONMED by 0.8% in the 4th quarter. Swiss National Bank now owns 60,600 shares of the company’s stock worth $4,147,000 after buying an additional 500 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNMD. Wells Fargo & Company dropped their price objective on CONMED from $70.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on shares of CONMED from $70.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC lowered shares of CONMED from a “buy” rating to a “hold” rating and set a $61.00 price objective for the company. in a research report on Thursday, June 12th. Stifel Nicolaus cut shares of CONMED from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $55.00 in a research note on Monday, April 28th. Finally, Wall Street Zen cut shares of CONMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, CONMED has an average rating of “Hold” and an average price target of $62.20.

Insider Activity

In other news, Director Charles Farkas sold 4,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was 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 in the company, valued at approximately $930,741.24. This represents a 19.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

CONMED Price Performance

Shares of NYSE CNMD opened at $52.01 on Friday. The stock’s 50-day simple moving average is $54.83 and its two-hundred day simple moving average is $61.64. CONMED Corporation has a twelve month low of $46.00 and a twelve month high of $78.19. The firm has a market capitalization of $1.61 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.34 and a beta of 1.24. The company has a quick ratio of 1.00, a current ratio of 2.26 and a debt-to-equity ratio of 0.91.

CONMED (NYSE:CNMD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.81 by $0.14. The company had revenue of $321.26 million during the quarter, compared to analyst estimates of $313.38 million. CONMED had a return on equity of 14.36% and a net margin of 9.02%. CONMED’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that CONMED Corporation will post 4.35 EPS for the current fiscal year.

CONMED Dividend Announcement

The business also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, June 13th. 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.