Tudor Investment Corp Et Al lifted its position in CONMED Co. (NYSE:CNMD – Free Report) by 398.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,426 shares of the company’s stock after acquiring an additional 62,677 shares during the period. Tudor Investment Corp Et Al owned 0.26% of CONMED worth $7,909,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of CONMED by 0.7% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 272,463 shares of the company’s stock valued at $21,844,000 after buying an additional 1,915 shares during the period. Vanguard Group Inc. raised its holdings in CONMED by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,338,586 shares of the company’s stock worth $267,654,000 after purchasing an additional 127,857 shares during the period. Thrivent Financial for Lutherans raised its holdings in CONMED by 10.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 32,085 shares of the company’s stock worth $2,572,000 after purchasing an additional 3,076 shares during the period. Public Employees Retirement System of Ohio raised its holdings in CONMED by 13.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,012 shares of the company’s stock worth $3,368,000 after purchasing an additional 5,058 shares during the period. Finally, State Street Corp raised its holdings in CONMED by 2.9% in the 3rd quarter. State Street Corp now owns 1,077,498 shares of the company’s stock worth $86,594,000 after purchasing an additional 30,369 shares during the period.
Analysts Set New Price Targets
A number of equities analysts recently commented on CNMD shares. Piper Sandler decreased their target price on CONMED from $130.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on CONMED from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company decreased their price target on CONMED from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, February 1st. Finally, Needham & Company LLC raised their price target on CONMED from $119.00 to $129.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.43.
CONMED Trading Up 0.0 %
Shares of CONMED stock opened at $85.03 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 0.77 and a beta of 1.33. The business has a 50-day moving average price of $92.67 and a 200-day moving average price of $100.36. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. CONMED Co. has a twelve month low of $78.95 and a twelve month high of $138.47.
CONMED (NYSE:CNMD – Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The firm had revenue of $327.05 million for the quarter, compared to analysts’ expectations of $332.94 million. CONMED had a net margin of 5.18% and a return on equity of 13.69%. Equities research analysts anticipate that CONMED Co. will post 4.34 EPS for the current fiscal year.
CONMED Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.94%. CONMED’s payout ratio is 39.22%.
CONMED Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.