Cooke & Bieler LP Has $45.45 Million Stock Holdings in CONMED Co. (NYSE:CNMD)

Cooke & Bieler LP reduced its stake in shares of CONMED Co. (NYSE:CNMD) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 664,043 shares of the company’s stock after selling 4,760 shares during the quarter. Cooke & Bieler LP owned 2.15% of CONMED worth $45,447,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in CONMED during the fourth quarter worth about $18,248,000. Proficio Capital Partners LLC bought a new stake in shares of CONMED during the 4th quarter worth approximately $909,000. Victory Capital Management Inc. boosted its position in shares of CONMED by 36.6% during the 4th quarter. Victory Capital Management Inc. now owns 14,984 shares of the company’s stock worth $1,026,000 after acquiring an additional 4,013 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CONMED by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,950 shares of the company’s stock valued at $26,209,000 after purchasing an additional 1,537 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of CONMED by 19.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,962 shares of the company’s stock worth $136,000 after buying an additional 322 shares during the last quarter.

Wall Street Analysts Forecast Growth

CNMD has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of CONMED from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. downgraded shares of CONMED from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $70.00 in a research note on Thursday, February 6th. Needham & Company LLC decreased their target price on shares of CONMED from $97.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their price target on CONMED from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.20.

CONMED Trading Down 0.1 %

Shares of NYSE CNMD opened at $62.67 on Tuesday. The stock has a market cap of $1.94 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The firm has a 50 day moving average price of $66.13 and a two-hundred day moving average price of $69.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 2.30. CONMED Co. has a 52-week low of $55.22 and a 52-week high of $86.96.

CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.14. CONMED had a return on equity of 14.31% and a net margin of 10.13%. As a group, equities analysts forecast that CONMED Co. will post 4.35 EPS for the current year.

CONMED Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.28%. CONMED’s payout ratio is 18.87%.

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.